Tech Billionaires Who Misplaced the Most in 2022: Musk, Bezos, Gates

Steve Ballmer, the previous CEO of Microsoft, misplaced $19.4 billion. Ballmer owns the NBA’s Los…

Tech Billionaires Who Misplaced the Most in 2022: Musk, Bezos, Gates

Steve Ballmer, the previous CEO of Microsoft, misplaced $19.4 billion.

Steve Ballmer, CEO of Microsoft from 2000 to 2014. Currently the owner of the LA Clippers NBA team.

Ballmer owns the NBA’s Los Angeles Clippers.

Kimberly White/Getty Pictures

The wealth of Ballmer, who was the CEO of Microsoft from 2000 to 2014, is principally tied up in shares of the tech behemoth. After this 12 months’s loss, he is value $86.2 billion.

In 2022, the corporate’s progress slowed because it confronted much less demand for private computer systems and a stronger US greenback. Gross sales of its Home windows working system fell, and its inventory adopted, falling by 28% over the 12 months. Microsoft informed traders to count on weak gross sales of private computer systems into the brand new 12 months.

Zeng Yuqun, the chairman of Up to date Amperex Know-how, misplaced $20.7 billion.

Zeng Yuqun, Chairman of Contemporary Amperex Technology Co.

Zeng chairs the world’s largest provider of electric-vehicle batteries.

VCG through Getty Pictures

Most of Zeng’s wealth comes from his 23% stake in Up to date Amperex Know-how, the biggest provider of electric-vehicle batteries. His internet value rounding out the 12 months is $32.5 billion.

In April, the corporate reported its sharpest decline in quarterly earnings, with internet earnings falling by 24%. Earlier within the 12 months, costs for nickel, a significant element of electric-car batteries, and different uncooked supplies had been unstable.

Invoice Gates, a cofounder of Microsoft, misplaced $28.6 billion.

Bill Gates attends the 2022 TIME100 Gala on June 08, 2022 in New York City.

Gates’ internet value fell together with Microsoft inventory.

Dimitrios Kambouris/Getty Pictures

With a internet value of $110 billion, Gates has investments unfold throughout firms, actual property, and land, however his shares of Microsoft are his most useful single holding.

Microsoft’s inventory misplaced near 30% of its worth this 12 months, as gross sales of Home windows fell and the corporate predicted gradual progress for its cloud income.

MacKenzie Scott, a novelist and philanthropist, misplaced $37.3 billion.

MacKenzie Scott head shot

Scott is the previous spouse of Jeff Bezos.

Evan Agostini/Related Press

Like that of her ex-husband Jeff Bezos, Scott’s internet value suffered from Amazon’s inventory drop this 12 months. Most of Scott’s wealth comes from a 3% stake in Amazon, whose shares tumbled by 50% this 12 months. She’s now value $19 billion.

She mentioned in a weblog put up in November that she’d given almost $2 billion this 12 months to 343 organizations supporting underserved communities.

Sergey Brin, a cofounder of Google, misplaced $44 billion.

Google cofounder Sergey Brin wearing a tuxedo at an Oscars party in 2022

Most of Brin’s internet value comes from his stake in Alphabet.

Evan Agostini/Invision/AP

Brin and his cofounder Larry Web page misplaced a collective $89 billion this 12 months as Alphabet and different tech firms handled a troublesome 12 months for digital promoting. Brin’s internet value sits at $79.5 billion.

Like Web page, Brin will get most of his wealth from his stake in Alphabet, Google’s dad or mum firm. As of the top of final 12 months, Web page and Brin collectively owned 85.9% of Alphabet’s Class B shares, that means they held somewhat over 50% of the corporate’s voting energy.

Changpeng “CZ” Zhao, the cofounder and CEO of Binance, misplaced $83.3 billion.

binance ceo changpeng zhao

Zhao suffered throughout this 12 months’s crypto winter.

Antonio Masiello/Getty Pictures

Most of Zhao’s $12.6 billion internet value comes from his controlling stake within the cryptocurrency trade Binance.

Because the collapse of FTX, which sought assist from Binance earlier than it filed for chapter, the crypto market has confronted scrutiny from traders nervous about their belongings.

This month, Binance prospects withdrew billions from the crypto platform. Due to the withdrawals and fluctuations in crypto costs, Binance held about $54.7 billion value of digital belongings in mid-December, whereas over a month earlier it held $69.5 billion value of belongings.

The Division of Justice is claimed to be investigating the agency over allegations of cash laundering.

Jeff Bezos, the founding father of Amazon and Blue Origin, misplaced $85.2 billion.

Jeff Bezos

Bezos’ wealth fell as Amazon’s inventory dropped this 12 months.

Anadolu Company / Getty Pictures

Bezos, who stepped down as Amazon’s CEO final 12 months, continues to be the corporate’s largest shareholder. However tech shares fell this 12 months, and the worth of Amazon’s shares fell by 50%. Bezos is now value $107 billion.

The corporate has handled excessive inflation and gradual progress in gross sales. Amazon was amongst a number of tech firms that laid off workers this 12 months, reducing about 10,000 jobs, probably the most in its historical past.

Elon Musk, the CEO of Tesla, SpaceX, and Twitter, misplaced $132 billion.

Elon Musk.

In 2022, Musk misplaced his title because the world’s richest man.

Adrees Latif/Reuters

Musk not too long ago misplaced his title because the richest particular person on the planet to Bernard Arnault, the CEO of LVMH. Now the second-richest particular person on Earth, Musk has a fortune of $138 billion.

He misplaced extra money than another billionaire this 12 months.

Loads of Musk’s wealth is tied up in shares of Tesla. The electrical-car maker’s inventory plummeted by nearly 70% this 12 months, partially as a result of traders grew involved by Musk’s takeover of Twitter.

Tesla’s inventory was additionally a sufferer of weakening demand for electrical automobiles, particularly in China, one among Tesla’s largest markets.