- 10 Wealthy tech billionaires have lost 44 44 billion in assets amid a sell-off that ended an 11-day rally.
- According to the Bloomberg Billionaire Index, Jeff Bezos recorded the highest personal decline of 9 9 billion, and the richest woman, his ex-wife McKenzie Scott, is also on the list.
- For the affected billionaires, including Bezos, Scott, Elon Musk and Bill Gates, the decline in wealth represents only a fraction of their collective wealth.
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The collective wealth of the 10 richest tech billionaires has shrunk by just 44 44 billion. According to the Bloomberg Billionaire Index, Amazon CEO and founder Jeff Bezos has made the biggest reduction in personal wealth, losing a loss of 9 9 billion.
Elon Musk and Mark Zuckerberg also saw declines of .. 1.5 billion and ૨ 2.5 billion, respectively. And Bill Gates’ wealth is 2. 2.9 billion less.
Musk, Zuckerberg and Gates are centibilliers (meaning they have a net worth of at least 100 100 billion), and these losses are a fraction of their total wealth. Bezos’ total wealth, for example, has fallen 4.5%.
The drop in their assets comes after a strong start for tech companies in 2020, as consumers around the world turned to retline retailers and services during the coronavirus epidemic. Markets continued to rally, but concerns that companies had raised valuations led to a big tech sell-off this week, with the Dow jumping 740 points on Thursday to end an 11-day hot streak.
Even after these losses, the 10 richest billionaires still have a combined net worth of 8 830 billion.
Mackenzie Scott also suffered as its net worth fell to K 4.5 billion. She became the richest woman after divorcing Bezos in 2019.
As wealth declines, U.S. The epidemic has spread over wealth inequality in, one in five Americans faced evacuation in September and demand in food banks is rising.
