How much money have Jeff Bezos and Elon Musk lost this year?

Rising inflation and rising interest rates during the first half of 2022, as well as The US stock market crash is also affecting the world’s richest men: Tesla CEO Elon Musk; and Amazon founder Jeff Bezos.

Stock markets faced the worst start to the year in history.

“The S&P 500 just posted its seventh straight week of losses, its longest losing streak since March 2001. And the Nasdaq just finished its worst month (April) since October 2008,” notes Forbes Magazine.

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Musk’s fortune

The fortunes of the 50 richest people on the planet (worth a combined $2.9 trillion as of last Friday’s close) have shrunk by more than half a trillion dollars since the start of the year, according to Forbes estimates.

Tesla Inc. fell to its lowest level this year, wiping $12.3 billion from its assets.

In all, Musk has lost $49 billion since going public on Twitter, in part because the broader market tanked as some Tesla investors fretted over how he would finance his bid for the social media giant. .

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Musk, 50, remains the world’s richest person, according to the Bloomberg Billionaires Index.

So far this year he had already cut $60.4 billion from his wealth, behind only Binance’s Chang Peng Zhao, who has lost $81 billion, and Jeff Bezos with $62 billion.
Musk has a fortune of around 68,000 million dollars richer than the previous year.

Bezos Fortune

The economic crisis means that no one has lost more than Musk and Bezos, whose net worths have plummeted by a combined $123.6 billion from December 31 to Friday, May 20, Forbes says.

Since the beginning of 2022, the fortunes of Elon Musk and Jeff Bezos have collapsed by a combined $124 billion, Forbes estimates.

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Bezos, worth an estimated $133.3 billion, is $59.3 billion poorer than he was on December 31.

Amazon shares have plunged 35 percent during that period.outpacing the 27 percent drop in the Nasdaq over the same period.

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How much money have Jeff Bezos and Elon Musk lost this year?