Why the technology industry lost a large amount of money up to 575 billion USD

Globally, there was a shock when technology lost some money for the first time in history, big names like Facebook, Google, Microsoft, … The spearheads are among them.

First of all, the big man in the billionaire world of the technology industry is: Elon Musk, CEO of Tesla, SpaceX and Twitter, losing $ 132 billion.

Elon Musk

Currently, Elon Musk has lost this title to Bernard Arnault. Currently, Tesla’s boss is only the second richest person in the world with a fortune of $138 billion. The reason Musk has such a large amount of money is because his fortune is tied to Tesla shares. But the electric car maker’s stock has plummeted nearly 70 percent this year.

The next tech billionaire is: Mark Zuckerberg, CEO Meta, lost 79.9 billion USD

Mark Zuckerberg

Currently, Mark Zuckerberg’s net worth is only $45.6 billion. The main reason is known to be that the revenue of Meta, formerly of Facebook, has plummeted in 2022 due to the economic downturn as well as the difficulties of digital advertising.

Next is billionaire Jeff Bezos, founder of Amazon and Blue Origin, losing $ 85.2 billion

Jeff Bezos

Bezos, the former CEO of Amazon, is still the company’s largest shareholder. In 2022, technology stocks plummeted, and Amazon’s stock price also fell by up to 50%. For this reason, Bezos’ net worth is now only $107 billion. Amazon is also among the big companies that have laid off a lot of employees in 2022. They have cut the most staff in history so far.

Changpeng Zhao, đồng sáng lập, CEO của Binance, mất 83,3 tỷ USD

Changpeng Zhao

Much of Zhao’s $12.6 billion net worth comes from his controlled shares in crypto exchange Binance. Since the crash of FTX, the crypto market has been in a lot of trouble, making investors very worried about their assets. Therefore, in December 2022, many customers withdrew their assets according to the statistics of billions of dollars from the Binance electronic exchange. Due to customers withdrawing too much, Binance now only holds about 54.7 billion USD, while in November alone, the company still holds up to 69.5 billion USD in assets.

Larry Page, đồng sáng lập Google, mất 45,3 tỷ USD

Larry Page

Both Brin and Page’s net worth fell this year as Alphabet struggled with internet advertising. Most of Page’s $83.1 billion fortune comes from his 6% stake in Alphabet.

Just like Larry Page. Sergey Brin, co-founder of Google, lost $44 billion

Sergey Brin

Sergey Brin and co-founder Larry Page have lost more than $89 billion in total this year as Alphabet and other tech companies struggle with digital advertising. Brin’s net worth is currently $79.5 billion.

Like Page, most of Brin’s fortune comes from his stake in Alphabet, the parent company of Google. As of the end of last year, Page and Brin together owned 85.9% of Alphabet’s Class B stock, meaning they held more than 50% of the company’s voting rights.

Bill Gates, co-founder of Microsoft, lost 28.6 billion USD

Bill Gates

Bill Gates currently holds $110 billion, he has invested in many companies and real estate, but shares in Microsoft are the most valuable stock he is holding. In 2022, Microsoft’s stock has lost nearly 30%, mainly because Windows sales are falling, and the company predicts slow growth in revenue from cloud services, leading to this loss. money in the past year.