The collective wealth of the 10 richest tech billionaires decreased by $ 44 billion of their net worth, according to the Bloomberg Billionaires Index, amid a tech sell-off that ended an 11-day rally, as Amazon CEO and founder Jeff Bezos saw the biggest drop in individual wealth, losing $ 9 billion. .
Elon Musk and Mark Zuckerberg also witnessed a decrease of $ 8.5 billion and $ 4.2 billion, respectively, while Bill Gates’ wealth decreased by $ 2.9 billion, as Musk, Zuckerberg and Gates are billionaires (meaning that their net worth is not less than $ 100 billion for each Of them), and these losses are fractions of their total wealth. For example, Bezos’ net worth decreased by 4.5%.
The decline in their net worth comes after a strong start to 2020 for tech companies, as customers around the world switched to retailers and online services during the Coronavirus pandemic, and the market continued to rise, but concerns that companies would overly expand valuations led to major tech sales. This week saw the Dow Jones down by 740 points on Thursday, ending an 11-day hotline.
Even after these losses, the top 10 billionaires still have a collective net worth of $ 830 billion, while MacKenzie Scott also suffered a loss, seeing her net worth drop by $ 3.2 billion, as she became the richest woman after her divorce from Bezos in 2019.
The decline in wealth comes as the pandemic has shed light on wealth inequality in the United States, with one in five Americans facing eviction in September, and food banks seeing an increase in demand.
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