Musk Wealth fell the most this week
Phoenix Network Technology News Beijing time on January 22 news, for billionaires, this is a painful week. From e-commerce to cryptocurrencies to online gaming companies, stock prices are falling. Fears of interest rate hikes by the Federal Reserve have gripped the U.S. economy, with U.S. stocks posting their biggest drops since the outbreak of COVID-19.
Cryptocurrency prices are one of the biggest victims. Bitcoin fell to a six-month low, and other digital assets also took a hit. The Bloomberg Billionaires Index shows that the net worth of cryptocurrency exchange Binance CEO Changpeng Zhao shrank by $17.7 billion this week to $75 billion.
The fortunes of the top five tech billion people evaporated $67 billion
The net worth of the world's top five tech billionaires totaled $67 billion (about 424.7 billion yuan) this week.Among them, elon Musk, the world's richest man and TESLA CEO Elon Musk, lost the most, reaching $25.1 billion (about 159.1 billion yuan), a drop of more than 9%. Amazon shares have fallen 12 percent this week, and its founder Jeff Bezos has evaporated $20 billion in wealth, with a second position in jeopardy. Mark Zuckerberg, ceo of Facebook's parent company, Meta, is down $10.4 billion.
Only one of the world's top ten richest people has bucked the trend in wealth, and that is Bernard Arnault, the French luxury fashion tycoon. His current net worth is $167.5 billion, on the verge of surpassing Bezos's $167.6 billion to become the second in the world. (Author/Zhenyu)
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