The past five months saw the net worth of billionaires Elon Musk, Jeff Bezos, and Bill Gates falling by $115 billion. The figures were released by Bloomberg’s Billionaires Index, which tracks the world’s 500 richest people.
According to Bloomberg’s data, Musk’s net worth has fallen by $46.4 billion whereas Bezos’ has come down by $53.2 billion. Gates has lost $15.1 billion. Bernard Arnault, the world’s third-richest person ahead of Gates, has suffered a $44.7 billion decline.
Most of Musk’s wealth is linked to Tesla. He has a 15.6% stake in Tesla worth about $122 billion. This year, the electric car market fell almost 37%. Moreover, in April, he acquired a 9.2% stake in Twitter, making investors apprehensive about his commitment to Tesla.
Gates’ portfolio is more diversified. Although ‘The Bill and Melinda Gates Foundation’ has risen by more than 5 per cent this year, his other investments, including his company Cascade Investments which invests in tech companies such as Apple, had a difficult time as tech stocks plummeted.
Bezos, the founder of Amazon, still owns about 50 million shares in the company which is worth about $115 billion. The stock has fallen by almost a third this year.
