The ongoing economic crisis is continuing to sweep through the world, causing challenges for everyone, including the world's wealthiest billionaires.
Inflation and market fluctuation are not only affecting the lives of average citizens or people who live check by check. Even though these two groups suffer more during economic shocks, since they have limited resources, difficult times still leave their mark on the lives of even the world's wealthiest people.
Since the start of 2022, the global economy has been affected by a number of factors that have reflected negatively on its performance for the last six months, including struggling businesses following the COVID19 pandemic and the instability caused by the ongoing Russian war in Ukraine.
Stock markets have seen steep plunges several times in the last few months, just as extreme changes in the energy sector were seen over and over again, which has significantly affected the wealth acquired by billionaires in every part of the world.
As of June 2022, the world's wealthiest people lost a total of $1.4 trillion.
Billionaires' Losses in 2022
1- Elon Musk
The world's richest billionaire, founder of Tesla and SpaceX Elon Musk lost $61.8 billion by June 2022.
2- Jeff Bezos
Founder of the leading global retail empire Amazon, Jeff Bezos lost nearly $62.7 billion by June 2022
3- Bill Gates
Known for founding Microsoft and being the former wealthiest man on earth, Bill Gates wealth shed $23.4 billion by June 2022.
4- Warren Buffett
CEO of Berkshire Hathaway has reported one of the heaviest financial losses among the world's billionaires, with nearly $65 billion in 2022.
5- Mark Zuckerberg
The social media emperor, owner of Meta, and founder of Facebook saw his wealth decrease by nearly $60 billion during the first six months of 2022.
6- Bernard Arnault
The French CEO of the world's largest luxury brand LVMH lost $49.3 billion in 2022.
7- Changpeng Zhao
Due to the strong plummet in the crypto market in the last few months, Changpeng Zhao, founder of Binance lost a whopping $77 billion.
8- MacKenzie Scott
The former wife of Jeff Bezos who was formerly involved in Amazon lost $30.8 billion
9- Larry Page and Sergey Brin
Co-founders of Google Larry Page and Sergey Brin saw their wealth lose $29 billion and $28.3 billion respectively.
10- Francoise Bettencourt Meyers
The L'Oreal billionaire, often regarded as the richest woman on earth lost nearly $24.4 billion in the first six months of 2022.
