Tumbling tech stocks knocked away tens of billions of dollars from the net worths of some billionaires on Friday, as inflation and economic tightening worries heightened.
According to the Bloomberg Billionaires Index, Musk’s fortune now stands at $268.9 billion, an increase of 72 percent year over year.
Jeff Bezos’ net worth fell by $2.7 billion after Amazon.com Inc.’s stock fell 1.4% in New York.
Larry Ellison, co-founder of Oracle Corp., lost $2.6 billion in fortune.
Mark Zuckerberg’s wealth dropped $1.3 billion to $114.7 billion with his recently rechristened Meta Platforms Inc. on the cusp of a bear market after an almost 20 per cent fall from its recent peak.