Tech billionaires lost $US433 billion ($644 billion) this year as stocks slid and many companies slowed their decade-long streak of constant growth.
– and also for the massive wealth buckets of the executives and founders whose net worths are so closely tied to their company’s fortunes. Facebook founder Mark Zuckerberg, who once ranked in the top 10 richest people in the world, lost nearly $US81 billion in net worth this year.Patrick Pleul
, founder of TikTok’s parent company ByteDance, has seen his fortune rise by more than $US10 billion to a net worth of nearly $US55 billion. The CEO of Tesla, SpaceX and Twitter was the richest person in the world for much of this year. But Musk, who holds much of his wealth in Tesla shares, lost that crown as Tesla stock spiralled downward, plunging nearly 70 per cent throughout the year.Tesla stock has felt the brunt of concern that demand for electric vehicles is weakening in China, a major market for the company. Tesla also faced challenges tied to the rising cost of supplies to make the vehicles.
Mark Zuckerberg’s net worth plunged nearly $US81 billion this year. The Facebook founder slid from the sixth-richest person at the end of last year to No. 25, according to the Bloomberg Billionaires Index.It’s been a trying year for Facebook, which announced it was changing the name of its parent company to Meta last year.
Earlier this year, Brin filed for a divorce from his wife, although the ultimate financial breakdown of the split will likely remain out of public view, after the couple took steps to shield details of the break-up.The entrepreneur, philanthropist and co-founder of Microsoft lost nearly $US29 billion in 2022.
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