Mon. Feb 6th, 2023

At the same time as hundreds of thousands within the U.S. misplaced their jobs, already wealthy tech billionaires added a mixed $2.1 trillion to their private fortunes as shares of tech corporations soared whereas others tanked. 2022, then again, has sucked the steam out of the tech shares, which have misplaced their pandemic momentum.

Greatest tech billionaire losers

Former CEO of Microsoft, Steve Ballmer, misplaced almost $20 billion of his private fortune which was tied largely to Microsoft inventory and the software program firm noticed a dip in its working system gross sales in 2022. Microsoft co-founder Invoice Gates, who additionally has investments in shares of different corporations, misplaced $28.6 billion on account of Microsoft’s worth drop of almost 28 p.c.

Zeng Yuqun, chairman of Up to date Amperex Know-how, the world’s largest provider of batteries for electrical autos ended 2022 with a private fortune of $32.5 billion, having misplaced over $20.7 billion within the 12 months.

Google co-founders Sergey Brin and Larry Web page, who personal almost 86 p.c of mother or father firm Alphabet’s Class B shares, misplaced $89 billion collectively as digital promoting additionally took a nosedive after the U.S. Federal Financial institution hiked rates of interest in 2022.

Mark Zuckerberg, who set a brand new course for his firm by rebranding it as Meta in 2021 and was trying to construct a brand new model of the web known as the metaverse, noticed his private wealth crumble by a whopping $79.9 billion and his exit from the highest 10 of the world’s richest folks as properly.

Changpeng “CZ” Zhang’s drop in fortune was even higher because the cofounder of Binance misplaced $83.3 billion, and the costs of cryptocurrencies crashed and traders withdrew billions from the platform.

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