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World’s 500 richest people including Elon Musk, Mark Zuckerberg and Jeff Bezos have lost $1.4 TRILLION in 2022 amid rocketing interest rates and inflation, report finds
- The report shows that US billionaires alone – such Elon Musk, Jeff Bezos, and Mark Zuckerberg – have seen their fortunes cut by roughly $800 billion
- The decrease, announced in a Capgemini World Wealth report Tuesday, represents a stark turnaround from gains seen last year
- The two richest in the world, Musk and Bezos, accounted for roughly 16 percent of the decrease seen among US billionaires, the data reveals
The world’s 500 wealthiest lost a combined $1.4 trillion this year, it has been revealed – a loss spurred by rocketing interest rates and record inflation.
The decrease, announced in a Capgemini World Wealth report Tuesday, represents a stark turnaround from gains seen last year, when corporations and billionaires raked in record profits during the pandemic, as millions others lost their livelihoods.
US billionaires – such Elon Musk, Jeff Bezos, and Mark Zuckerberg – have seen their fortunes cut by roughly $800 billion, placing them among the biggest losers of the bombshell report.
The report showed a loss of $206 billion on Monday alone.
More to follow
The world’s 500 wealthiest lost a combined $1.4 trillion this year, it has been revealed – a loss spurred by rocketing interest rates and record inflation
The decrease, announced in a Capgemini World Wealth report Tuesday, represents a stark turnaround from gains seen last year, when corporations and billionaires raked in record profits during the pandemic, as millions others lost their livelihoods
The report shows that US billionaires alone – such Elon Musk, Jeff Bezos, and Mark Zuckerberg – have seen their fortunes cut by roughly $800 billion
The two richest in the world, Musk and Bezos, accounted for roughly 16 percent of the decrease seen among US billionaires, the data revealed.
Musk, 50, who emerged as the world’s richest man in fall 2021 after seeing his wealth surpass Bezos’, lost roughly a quarter of the $270billion he started the year with, losing $73.2billion in less than six months, according to Capgemini.
The Tesla head’s net worth now stands at roughly $197billion as of the report’s release Tuesday, according to Bloomberg’s Billionaire Index.
Others to lose astronomical numbers included Facebook founder Mark Zuckerberg, who fell out of the top ten list of billionaires earlier this year due to plummeting Meta stock; and the world’s third-richest man, Louis Vuitton boss Bernard Arnault.
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