Source: EPA / BGNES
I Lon Musk, Jeff Bezos and Bill Gates are names that are synonymous with wealth in the world. However, in 2022, these men, along with many others on the list of the richest people in the world, lost billions of dollars, Business Insider reports.
A little over a year ago, when the world was dealing with the waves of the epidemic, the companies created by Musk, Bezos and Gates floated on the high waves of growth and the personal fortunes of these people swelled. Musk’s Tesla company grew during a difficult period for the automotive sector, making it not only the richest man in the world, but also the Time Man of the Year.
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The beginning of the new year was marked by another strain of coronavirus and it seemed that 2022 would be very similar to 2021 with blocking access and suffocating economies. As time went on, however, the threat of the virus diminished and life seemed to return to normal before the pandemic.
Cryptocurrencies, which peaked during uncertainty last year, fell to less than half of their peak values, and the bullish series that some companies have held is certainly over. For example, shares of Amazon soared over $ 3,000 in January this year, and this month fell to only $ 2,000.
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On January 3, shares of Tesla reached $ 1,200, but have since lost enormous value, falling to $ 628 in May. The decline could also be attributed to Musk’s decision to take part in the social media game by offering to buy Twitter. In addition to fears that Musk’s focus will shift from his electric car company, investors are worried that he will lose Tesla shares to fund his new interest.
Musk is already considering a new lower price for Twitter
Since the beginning of 2022, Musk’s personal fortune has shrunk by as much as $ 46 billion, and although part of the blame for this is the decision to buy Twitter, Musk is in the same boat as other billionaires. Bezos has lost $ 53 billion from his personal fortune,
Unlike Musk and Bezos, who continue to invest in the companies they founded, Gates has diversified its investment portfolio and invested in Warren Buffett’s holding company. Buffett is the only person on the list of the 5 richest people whose personal fortune increased in 2022.
A quick look at the Bloomberg Billionaires Index shows that most of the names on the list have seen their fortunes shrink in 2022, and that could be a sign of things to come.
Countries around the world are facing high energy prices and inflation in the value of goods. Earlier in May, the US Federal Reserve raised interest rates to curb inflation, a move that prompted investors to dump risky assets such as cryptocurrencies and technology stocks.
Financial experts warn that rising interest rates could lead to a recession – something Musk welcomes.
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