The 20 richest corporate executives are losing $480 billion this year

CEOs of many technology corporations are often founders and therefore own large shares. Therefore, the size of their wealth is usually related to the level of capitalization of the companies they manage. Since the beginning of the year, the world’s 20 richest tech entrepreneurs have lost a total of about $480 billion due to falling stock prices.

Image source: Getty Images, AFP, ZUMA Press

The Wall Street Journal reports the relevant information, citing data from the Billionaires Index, reports Bloomberg. If in the first months of the epidemic, a new billionaire appeared every 30 hours, then the consumption of the economic boom he established led to a sharp decline in the well-being of the members of the profile rating. Meta* founder Mark Zuckerberg, for example, has lost $87 billion in personal wealth since the beginning of this year, and now, with $37.7 billion, ranks 28th on the list of the richest people in the world, while at the beginning of the year he could have claimed; place in the top ten. In just one day after the publication of Meta’s quarterly reports, Zuckerberg’s fortune was reduced by $11.2 billion.

According to Bloomberg, Elon Musk, the richest man in the world, has lost about 58 billion dollars since the beginning of the year, and he is in no way inferior to his closest competitor, in the form of Jeff Bezos, the founder of the online store Amazon. . The latter, in terms of finances, was seriously hampered by the divorce from his wife, Mackenzie Scott, who is the only woman on the list of the top 20 billionaires in the technology sector. Since the beginning of the year, he has reduced his wealth by 29 billion dollars, but this can be explained by his active participation in charity. The ex-husband now has a personal fortune of $134 billion, according to Bloomberg, while his rival Musk has $212 billion.

Google founders Larry Page and Sergey Brin are among the 10 richest people in the world, but since the beginning of the year their wealth has also decreased by 40 billion dollars. There is also a place in the top twenty for entrepreneurs from outside the USA. For example, Alibaba Group founder Jack Ma has lost $9.3 billion since the start of the year, but still has a staggering $29.1 billion in net worth. He even managed to increase his fortune by $10.4 billion to $54.9 billion. In fact, he became one of only two billionaires to raise personal capital in the tech industry this year. The second winner is Robert Pera, the founder of the American company Ubiquiti, specializing in the production of wireless network equipment. His fortune has increased by 1.3 billion dollars since the beginning of the year, reaching 14.7 billion dollars.

* It is included in the list of public associations and religious organizations, in relation to which the court has entered into force the order to dissolve or ban the activity on the grounds provided by the Federal Law for extremist activities.

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