What Does It Feel Like To Lose $25B In One Week? Ask Elon Musk

While investors in both traditional and the crypto markets are feeling some pain at the start of 2022, the biggest loser so far has been the world’s richest man Tesla Inc TESLA CEO Elon Musk, who’s net worth dropped by 9% last week, a whopping $25.1 billion.

According to Bloomberg, the market downturn has hurt the nest eggs of other industry titans as well. Amazon.Com Inc AMZN founder Jeff Bezos saw his wealth trimmed by $20 billion dollars.

Changpeng Zhao, CEO of the world's largest crypto exchange Binance witnessed $17.7 billion of his fortune evaporate, and Meta Platforms Inc FB CEO Mark Zuckerberg saw his net worth drop by $10.4 billion.

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The Bloomberg Billionaires Index shows that only one of the 10 wealthiest people in the world managed not to lose money last week. Bernard Arnault, the French luxury fashion mogul, avoided the carnage and is now just $100 million from matching the fortune of Bezos, which would make them both the second-richest men in the world.

Included in the top five richest people are Bill Gates, now in fourth place with $128.6 billion, and Google co-founder Larry Page, ranked at number five with $116.5 billion.

Meta's Zuckerberg comes in sixth with $113.4 billion. While Binance’s Zhao, has been hit particularly hard with last week’s big decline in the crypto market, his net worth is now $75 billion.

Elon Musk remains at the top of the list with a net worth of $243.4 billion.

Photo: Courtesy of Purple Slog on Flickr