The world’s top five tech giants, including Elon Musk, Jeff Bezos and Bill Gates, have already lost about $ 85 billion this year after a brutal market sale.

• Last week the stock market fell due to rising interest rates and concerns about inflation.

• The tech-heavy Nasdaq Composite index has fallen 8% weekly and to date 13%.

• The world’s top five tech tycoons have lost a total of about $ 85 billion in net worth so far this year.

The world’s top five tech tycoons have already lost $ 85.70 billion in net worth in the first few weeks of 2022, as they made a big hit from last week. Market sale..

The brutal stock market loss has reduced the wealth of the world’s wealthiest man, Elon Musk, to $ 243 billion. That’s about $ 27 billion less to date. Bloomberg Billionaire Index, Musk last November Net worth peaked at $ 335 billion.

Jeff Bezos, co-founder of Amazon, the second wealthiest man in the world, has lost about $ 25 billion since the beginning of the year.

Microsoft co-founder Bill Gates has seen a $ 9.5 billion decrease in net worth since January 1, while Google co-founder Larry Page’s net worth has fallen by $ 12 billion. Facebook’s Mark Zuckerberg concludes the loss, with its net worth declining by about $ 12 billion so far this year.

All five saw a loss in their tech stock holdings.Benchmarks are technically heavy last week Nasdaq Composite Index It fell by about 8% due to multiple factors such as rising interest rates and inflation. Nasdaq has declined by about 13% to date.

according to Bloomberg, The only top five millionaire who didn’t lose money last week was Bernard Arnault, chairman and CEO of French luxury giant LVMH. Still, Arnaud’s assets have fallen $ 10.5 billion so far this year, and LVMH’s share price has fallen 5% year-to-date due to market expansion.

Here’s how the wealthiest people in the world are progressing at the Bloomberg Billionaires Index as of January 24:

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