- Musk, Bezos and Gates have seen their net worth cut by $ 115 billion this year.
- The figures come from Bloomberg’s billionaire index, which tracks the world’s 500 richest people.
- Musk’s $ 224 billion net worth makes him the richest man in the world by a wide margin.
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Elon Musk, Jeff Bezos and Bill Gates have suffered a collective impact of $ 115 billion on their net worth over the past five months due to the stock market crash.
According to the Bloomberg Billionaire Index, Musk’s value has dropped by $ 46.4 billion, Bezos $ 53.2 billion, while Gates has shaved $ 15.1 billion.
On Friday, Musk was worth $ 224 billion, Bezos $ 139 billion and Gates $ 123 billion.
Bernard Arnault, president of the French luxury conglomerate LVMH and the third richest person in the world ahead of Gates, has plummeted from $ 44.7 billion from January to $ 133 billion.
Most of Musk and Bezos ‘wealth is tied to the shares of Tesla and Amazon, the companies they founded, but Gates’ stakes in Microsoft, which he co-founded, are now relatively modest.
Musk has a 15.6% stake in Tesla worth about $ 122 billion after shares of the electric car maker fell nearly 37 percent this year.
It also acquired a 9.2% stake in Twitter in April, prompting investors to question its commitment to Tesla and helping to reduce its value. Musk sold $ 8.4 billion worth of Tesla shares to fund its subsequent $ 44 billion takeover bid.
Bill Gates is the fourth richest person in the world, according to Bloomberg. Ryan Lash / TED
Gates has a more diversified portfolio, which has helped him withstand the sale of the stock market. The Bill and Melinda Gates Foundation, the philanthropic organization he created with his ex-wife, is investing mostly in Warren Buffett’s Berkshire Hathaway, which has grown by more than 5% this year.
But other investments, including his company Cascade Investments, which invests in technology companies such as Apple, have had a more complicated course. Technology stocks have been sharply corrected in recent months in the face of inflationary pressures and falling consumer confidence.
Musk has accused Gates of having a “multimillion-dollar” bet against Tesla by taking a short position.
The founder of Tesla and SpaceX has been involved in a public war of words with Gates and Bezos, addressing the couple in a series of tweets accusing Gates of the short and telling Bezos to spend less party time if he wanted to in orbit with its Blue Origin Rocket Adventure.
Bezos, who founded Amazon, still owns about $ 50 million worth of the company, worth about $ 115 billion.
Shares have fallen nearly a third this year, but are still worth nearly $ 1.2 trillion, far more than Tesla’s $ 786 billion valuation after a nearly 37% drop.