The dollar rain that fell on Tesla CEO Elon Musk this month stopped on Thursday. Musk’s net worth suffered a dent of $15.9 billion in a single day. However, Musk is still on the top position in the list of the world’s rich. Jeff Bezos is on second and Bernard Arnault is on third.
Big blow to billionaires associated with tech companies
Elon Musk was the top loser in the list of billionaires on Thursday. Thursday’s top-8 losers in the Bloomberg Billionaires Index are from tech companies. Elon Musk lost $15.9 billion, Meta CEO Mark Zuckerberg lost $7.57 billion and Nvidia owner Jensen Huang lost $6.49 billion.
Former Amazon CEO Jeff Bezos suffered a loss of $4.70 billion, while Alphabet co-founder Larry Page suffered a loss of $4.10 billion. Sergey Brin, the other co-founder of Google’s parent company Alphabet, also suffered a loss of $3.81 billion. Apart from this, former Microsoft CEO Steve Ballmer suffered a loss of $3.64 billion and Dell Technologies Chief Executive Michael Dell suffered a loss of $2.42 billion.
Why did the property of these billionaires get compromised?
These billionaires own shares in their tech companies. When share prices rise, their net worth also increases; if they fall, the net worth falls. Thursday was not a good day for American tech companies.
American stock markets closed with a decline on Thursday. Due to the huge fall in the shares of tech companies, Nasdaq fell 1.95% and closed at 18,283.41. Tesla’s share price fell 8.4%, its biggest one-day decline since January. Shares of Microsoft and Amazon fell more than 2%. Meta Platform’s shares dived nearly 4%. Apple’s share price fell 2.3%.
