8 richest tech leaders lost over $250 billion in 2022: Elon Musk and Jeff Bezos suffer losses

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It’s no secret that technology leaders have a lot of influence when ranking the richest people in the world.

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Eight of the world’s top 20 billionaires made their fortune in the tech sector, according to the study. Bloomberg Billionaire Index.

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Of these tech billionaires, seven are in the top 10 richest people.

The tech billionaires on the list have made their fortunes in industries such as automotive, e-commerce, software, and social media. The combined net worth of the top seven tech entrepreneurs exceeds $936 billion.

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But they also lost a lot of money compared to this time a year ago.

The combined net worth of eight of the top 20 tech billionaires has fallen $256 billion, according to Bloomberg, roughly equal to New Zealand’s gross domestic product. based on World Bank data.

Who are these eight tech billionaires and how did they make their money?

Here’s a breakdown of the tech leaders on Bloomberg’s list as of Friday.

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Mark Zuckerberg

Net Worth: $63.8 billion

Changes from a year ago: $61.7 billion decline

Where does it rank: 17th

How he earned: Zuckerberg co-founded Facebook, which helped usher in the social media era by bringing together family, friends, and random high school randoms you don’t really talk to that often. Over time, Facebook evolved into Meta to better reflect the company’s transition to virtual reality and the metaverse.

Larry Ellison

Net Worth: $88.8 billion

Changes from a year ago: $18.4 billion decline

Where does it rank: 10th

How he earned: Ellison co-founded software giant Oracle in 1977 in Silicon Valley. Ten years later, it became the world’s largest database management company. Allison also owns his own Hawaiian island.

Steve Ballmer

Net Worth: $94.6 billion

Changes from a year ago: $11 billion decline

Where does it rank: 9th

How he earned: Ballmer served as Microsoft CEO from 2000 to 2014, boosting the company’s revenue to $80 billion by the time he retired. Ballmer currently owns the Los Angeles Clippers in the NBA.

Sergey Brin, president of Alphabet and co-founder of Google

Sergey Brin

Net Worth: $103 billion

Changes from a year ago: $20.9 billion decline

Where does it rank: 6th

How he earned: Brin is one of the co-founders of Google, which has become an indispensable search and productivity tool for billions of people. As of Friday, Alphabet, the parent company of Google, has a market capitalization of $1.5 trillion.

Larry Page

Net Worth: $107 billion

Changes from a year ago: $21.3 billion decline

Where does it rank: 5th

How he earned: Another co-founder of tech giant Google. Both Page and Brin currently sit on Alphabet’s board of directors.

Bill Gates

Net Worth: $116 billion

Changes from a year ago: $22.4 billion decline

Where does it rank: 4th

How he earned: Gates co-founded Microsoft, which has a market capitalization of about $2 trillion. After Microsoft, he founded the Bill & Melinda Gates Foundation to help fight poverty and global inequality. He was also once a great chair jumper.

Jeff Bezos speaks on stage during the 2021 People's Choice Awards held at the Barker Hangar, Santa Monica on December 7, 2021.

Jeff Bezos

Net Worth: $140 billion

Changes from a year ago: $52.5 billion decline

Where does it rank: 2nd

How he earned: See those Amazon packages on your doorstep? Pat yourself on the back because you helped Bezos, the founder of Amazon, make a lot of money. Online shopping has become a staple for many households, especially during the COVID-19 pandemic when restrictions have kept us at home. Bezos has since stepped down as Amazon CEO. and now he’s playing with rockets.

Elon Musk

Net Worth: $223 billion

Changes from a year ago: $47.8 billion decline

Where does it rank: 1st

How he earned: Musk owns electric car maker Tesla and, like Bezos, also plays with rockets thanks to SpaceX. He is currently working on a deal to acquire Twitter for $44 billion. but this deal is in jeopardy.

Follow Brett Molina on Twitter: @brettmolina23.




Credit: www.usatoday.com /

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