Elon Musk, Jeff Bezos And Mark Zuckerberg Lose A Combined Wealth Of Over 200 Billion Dollars

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As the world is heading towards the worst bear market yet, ever since the industrial revolution, not even the big billionaire boys are spared. The technocrats did make a sizable profit during the pandemic as the world watched their wealth soar. The profit was short lived as the world is plagued by one crisis short of an apocalypse. Elon Musk, whose wealth was at its peak in Nov 2021 with over $340 billion in the coffers, has lost enough wealth in the past couple of months to make another Ambani richer. Cumulatively Musk, Bezos and Zuckerberg have lost over 200 billion this year. Neither of their companies’ stocks are performing including Meta and Tesla that are bleeding by the minute. Both the companies have indefinitely ceased global hiring. Meanwhile, if you combine the loss of the other 500 wealthiest, it amounts to a whopping $1.4 trillion this year!

Source: Bloomberg via Moneycontrol

Even green entrepreneurs haven’t been spared with the top 15 wealthiest clean tech tycoons losing over $141 billion. Elon Musk leads the green tech pack too with his Tesla endeavours! That’s a tell tale of the tanking economy that’ll take down any folio you have invested in regardless of how benevolent it seems. Meanwhile SpaceX CEO Elon Musk Touted To Become The World’s First Trillionaire By 2024. Ironic isn’t it!

Speaking of the crashing economy and bleeding wealth, maverick trader Jim Rogers says nothing is safe. Not even Dollar. Dollar ain’t a safe haven like most presume.

See Also: Trading Guru Jim Rogers Shares Lessons For First Time Investors Amid The Worst Bear Market Yet

With crypto crashing and global stocks plummeting, investors are paranoid and frantic. If billionaires can bleed in billions, think of your local sabji wallahs, doodh wallahs and delivery boys. How are they gonna manage the impending inflation and recession? And it is not the worst yet!

Everyone’s losing their money and here we’re losing our minds. Cuz got no money eh! (sigh)

Why is this sob story of billionaires losing/gaining wealth worth mentioning again and again? It’s probably a good indicator of what is ephemeral and what is eternal!

See Also: Warren Buffett Slams Wall Street Financial Advisors, Says “Monkeys Can Provide Better Investment Results”

Cover Image: mashable/bhavya

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