Economic woes are affecting the highest echelons of wealth.
According to recent statistics released by Forbes, the world’s wealthiest individuals have become substantially less wealthy over the course of 2022. Factoring in the combined losses of every billionaire in the world, they experienced a collective loss of approximately $2 trillion USD this year, with United States-based billionaires in particular losing the most of any country at $660 billion of losses.
It’s been a bad year to be a billionaire–and not just for those who blew up their businesses or got themselves arrested. https://t.co/2V8AdVT3X1 pic.twitter.com/VOTmjj7Qyb
— Forbes (@Forbes) December 26, 2022
Most of the top billionaires of the United States, including Jeff Bezos, Mark Zuckerberg, Larry Page, Phil Knight, and Leonard Lauder saw losses of at least $10 billion each, with the top two, Bezos and Zuckerberg, collectively losing about $160 billion. Out of all of them, however, the one who incurred the most losses in America’s current richest man, Tesla, SpaceX, and now Twitter CEO Elon Musk.
Globally, the world's billionaires lost nearly $2 trillion, combined, in 2022, according to Forbes. https://t.co/g1n3mjpR7C
— NBC10 Boston (@NBC10Boston) December 28, 2022
Due to a variety of factors, including Tesla stock sell-offs and the major cash injection required to purchase Twitter in its entirety, Musk lost approximately $115 billion in his net worth over the course of the year. Musk’s current net worth is about $139 billion; while he is still the wealthiest man in America, he has long since lost his position as the wealthiest man in the world.
George Santos Admits to Fabricating Political Resume
-
Michael Saylor, a prominent figure in the world of cryptocurrency, has seen significant gains this week as the value...
-
The Office for National Statistics (ONS) released official figures on Wednesday, revealing that the United Kingdom posted a record...
-
As scrutiny intensifies, Fujitsu faces repercussions for its role in the Post Office scandal. The UK government has issued...
-
Tech Billionaire Proposes Renaming Wikipedia to ‘Dickipedia’ in Exchange for Record Donation In a recent social media spectacle, tech...
-
Urgent IMF Deal Needed to Prevent Pakistan’s Economic Collapse, Bloomberg Warns Bloomberg, a renowned US-based financial news service, has...
-
Federal student loan borrowers are in a tough situation as the pause on loan payments, implemented during the pandemic,...
-
Silicon Valley Bank’s Acquisition Fallout: Rising Unemployment and Uncertain Future First Citizens BancShares Inc., the new Silicon Valley Bank...
-
President Joe Biden and House Speaker Kevin McCarthy engaged in crucial negotiations on Monday to address the US government’s...
-
Secure your financial future with the 50/30/20 rule! As the cost of living continues to increase in 2023, managing...
-
Common treatments and medicines are becoming more expensive and harder to get. According to a new report released this...
-
A California appeals court overturned the challenge to Proposition 22. Back in 2020, California voters passed Proposition 22, which...
-
Tesla is looking to spark interest in its most expensive models. In the last several months, prominent electric vehicle...