Amid worsening global geopolitical and macroeconomic conditions, falling stock markets and declining economic growth forecasts, the fortunes of the world’s richest people have declined by nearly $1.4 trillion this year.
The decline in the wealth of the richest 500 people is mainly due to the fall in the stock markets of the companies owned by the billionaires, including: Tesla, Amazon, Meta and Microsoft.
The first half of this year ended with the worst result for the founder of the world’s largest crypto exchange Binance. Changpeng Zhao’s fortune has decreased by almost $80 billion in six months, which is directly related to the sharp depreciation of Bitcoin, Ethereum and other major cryptoassets.
Billionaires who suffered the most this year:
Changpeng Zhao
Property change: -$79.3 billion
Source of wealth: Binance
Net Worth: $16.6 billion
Mark Zuckerberg
Change in property: -$65.9 billion
Source of Wealth: Meta (Facebook)
Net Worth: $59.6 billion
Elon Musk
Change in property: -$59.9 billion
Source of wealth: Tesla, SpaceX
Net Worth: $210 billion
Jeff Bezos
Change in property: -$59.3 billion
Source of wealth: Amazon
Net Worth: $133 billion
Bernard Arnaud
Change in property: -$50.4 billion
Source of wealth: LVMH
Net Worth: $128 billion
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