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Musk loses 11.4 billion euros in one day: the stock market earthquake reduces assets | money

It’s a price slaughter on the world’s stock exchanges: New York’s “Dow Jones” index fell nearly a thousand points on Monday, the larger S&P 500 arrived in official “bear market” territory with a loss of more than 20% this year .

The worst are the losses among the richest in the world, although the sympathy of the population is likely to be limited.

► With the recent tremors in the stock and cryptocurrency markets, the world’s leading money royalty has lost a whopping $ 1.4 trillion. According to a report by Capgemini World Wealth, losses averaged 13% in North America and 8% in the rest of the world.

On Monday alone, the wealth of the rich fell by € 197.8 billion.

The descent can be illustrated by the example of the richest men on earth:

Elon Musk (50) lost 11.4 billion euros in a single day. Even if the Tesla and SpaceX boss does not have to starve with a total residual assets of over 190 billion euros, the losses are considerable: according to the “Bloomberg Billionaires Index”, his fabulous wealth this year has shrunk by 70. , 2 billion euros.

Musk’s net worth is primarily based on the stock value of electric car company Tesla. Here the stock price fell 45.9 percent this year. Many investors are also worried that Musk may get bogged down in the planned acquisition of the Twitter short messaging service, or perhaps take it over.

Jeff Bezos (58), the founder of the shopping giant Amazon and the second richest man on earth, also looks at a greatly reduced wallet: this year Bezos, who has long since left the daily business of Amazon, has already lost 62, € 6 billion – ironically now more than it cost him to divorce ex-wife MacKenzie Scott (52) in 2019.

Earlier this week he had to say goodbye to the collapse of the € 5.9 billion Wall Street stock. Its wealth is now 121.9 billion euros.

The Amazon founder also lost several billion euros on Monday

Photo: AFP via Getty Images

Bernard Arnault (73) LVMH CEO Moet Hennessy Louis Vuitton, the world’s largest producer of luxury goods, had to accept heavy losses in this year of stock market crisis: since the beginning of the year, the ownership of the French fell by 54.5 billion euros. In the rich ranking it is now in third place with assets of 116.1 billion euros.

► He also got cold Bill Gates (66), the founder of Microsoft, now the largest software company in the world, which recently caused a stir as a self-proclaimed prophet of a pandemic. 2022 has made it 23 billion euros poorer so far. It lost 3.1 billion euros on Monday.

The bitcoin businessman lost 81.9 billion euros

Monetary misery among the wealthy in the US and Europe sounds almost harmless compared to losses in the cryptocurrency industry: because this year’s least dramatic was to be Changpeng Zhao (44) plug in: The Sino-Canadian businessman is the founder of “Binance”, the largest cryptocurrency exchange in the world.

With the decline of Bitcoin & Co., this year he lost 81.9 billion euros of his private wealth: now he has only 10 billion left. It is arguably the most spectacular mega-billionaire accident of all time.

► Speaking of sensational defeats: Facebook founder Mark Zuckerberg (37) caused a media frenzy in February when he lost a staggering € 28.6 billion in a single day. The share price of his social media empire Meta had plummeted 26% by that time. Things didn’t go much better after that either: Zuckerberg’s losses in 2022 have already reached 61.8 billion euros and his previous wealth has been halved.

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