Elon Musk & 9 Billionaires Who Lost Billions In 2022
Table of Contents
- 10. Bill Gates
- 9. Francoise Bettencourt Meyers
- 8. MacKenzie Scott
- 7. Sergey Brin
- 6. Bernard Arnault
- 5. Larry Page
- 4. Jeff Bezos
- 3. Elon Musk
- 2. Changpeng Zhao
- 1. Mark Zuckerberg
- Other Billionaires
As 2022 came to a close, there were stories of the world’s wealthiest people losing billions. According to statistics, the total projected sum lost by the world’s 500 wealthiest men is $1.4 trillion.
Even the world’s wealthiest citizens have had financial hardships as a result of the global economic crisis, which the United Nations Department of Economic and Social Affairs called as gloomy.
The majority of the billionaires who lost billions were the owners of technology companies. Do you know who all of these millionaires are? Here are the ten billionaires who will have lost billions of dollars in 2022.
|Ranking||Name||Net Worth (Lost)|
|10||Bill Gates||$27.3 billion|
|9||Francoise Bettencourt Meyers||$30.7 billion|
|8||MacKenzie Scott||$31.7 billion|
|7||Sergey Brin||$38.1 billion|
|6||Bernard Arnault||$38.2 billion|
|5||Larry Page||$39.2 billion|
|4||Jeff Bezos||$65.7 billion|
|3||Elon Musk||$66.4 billion|
|2||Changpeng Zhao||$72.6 billion|
|1||Mark Zuckerberg||$87.3 billion|
10. Bill Gates
Bill Gates, the world’s former wealthiest man, will lose approximately $27.3 billion in 2022. He has lost thus much of his money not as a result of stock market falls, but as a result of his charitable contributions.
Bill Gates, the co-founder of Microsoft, announced on Twitter in July that he intends to donate all of his wealth to a foundation and will eventually drop from the list of the world’s wealthiest individuals.
According to sources, he has donated approximately $20 billion to his philanthropic foundation, the Bill and Melinda Gates Foundation.
9. Francoise Bettencourt Meyers
Francoise Bettencourt Meyers, the great-granddaughter of the L’Oreal founder, incurred a $30.7 billion financial loss on her 33% ownership position in the company.
The October drop in L’Oreal shares was a big element in her loss, as it was caused by Covid-19 lockdowns in China, which had an impact on the company’s critical luxury products sector.
8. MacKenzie Scott
MacKenzie Scott is a philanthropist who has lost around $31.7 billion as a result of her charity activities. Scott was married to Amazon founder Jeff Benzo until their divorce in 2019.
Following their divorce, Scott received 25% of Jeff’s Amazon stock, equaling roughly 4% of the company. When she signed the Giving Pledge in 2019, she pledged to give away half of her money over the course of her life. Since 2020, she has donated $12 billion to various causes.
7. Sergey Brin
Sergey Brin, a Google board member and co-founder, lost $38.1 billion this year. It was due to Alphabet, Google’s parent company, failing to meet estimates for the earnings it projected to make from its digital advertising segment in the September quarter.
6. Bernard Arnault
Bernard Arnault of LVMH, who briefly held the title of richest person in the world in 2021, is now among the billionaires who have suffered the greatest losses, with his net worth falling by $38.2 billion.
In September alone, the French millionaire lost $4.06 billion due to increased interest rates and fresh inflation estimates.
Despite the fact that LVMH sales climbed over the previous year, thanks in part to American consumers’ improved purchasing power, his net worth could still be substantial.
5. Larry Page
Larry Page, who co-founded Google and owns 12% of Alphabet with Sergy Brin, had a comparable drop in net worth. His losses were $39.2 billion, most likely as a result of Alphabet failing to meet its targets and presumably witnessing a fall in YouTube ad sales in its September report.
4. Jeff Bezos
Jeff Bezos, the founder and CEO of Amazon, has seen his fortune dwindle for some years. He will have lost around $65.7 billion of his wealth by 2022. He ranked fourth among the top ten billionaires who lost billions in 2022.
Benzo is presently regarded as the world’s fourth wealthiest man. Since July 2021, Amazon’s value has dropped by more than $90 billion.
3. Elon Musk
Elon Musk, the CEO of Tesla, has lost around $66.4 billion. In 2022, Musk paid $44 billion for Twitter. The buyout of Twitter is the primary reason Musk lost a significant portion of his net worth, which was around $9 billion.
Twitter is facing numerous financial challenges as a result of its failure to earn an annual profit in three of the prior five years. Musk incurred financial losses earlier in 2022 when Tesla’s stock fell 8% in May.
2. Changpeng Zhao
Zhao, Binance’s CEO and founder, has lost $72.6 billion this year. He formerly had a worth of $96 billion and his crypto crisis caused digital currencies to lose $2 trillion in value. He was ranked second among the top ten billionaires who lost billions in 2022.
Binance said in September that the cryptocurrency market is collapsing. As the US dollar grew stronger in regard to bitcoin, the meltdown was tied to macroeconomic factors.
1. Mark Zuckerberg
Mark Zuckerberg, the founder of Facebook and the CEO of Met, is one of the wealthiest men in 2022 with the highest net loss. He has lost an estimated $87.3 billion of his fortune.
Since September 2021, he has lost more than half of his wealth, taking him off the list of the top ten richest Americans, which he had been on since 2015.
The sharp drop in wealth was caused by Meta’s dropping price. Meta shares have decreased by 57% since the same period. The fall has been mostly caused by a drop in advertising revenue as a result of changes to Apple’s privacy regulations and competition from TikTok, another social media app.
These are only the top ten billionaires who will have lost billions in 2022. Steve Ballmer, the former CEO of Microsoft and owner of the Los Angeles Clippers, has predicted a drop of more than $20 billion in 2022.
Phil Knight, the chairman of Nike, will have lost around $18.3 billion of his wealth by 2022.
Larry Ellison, the co-founder of Oracle, lost nearly $16 billion in 2022, although still remains the world’s seventh richest person.
Leonard Lauder, the emeritus chairman of The Estee Lauder Companies, lost $9.8 billion. Michael Dell, the CEO of Dell Technology, has predicted a $7 billion deficit in 2022. He is one of the world’s top 25 wealthiest persons.