According to Bloomberg, a few billionaires who had previously seen their wealth soar to unfathomable heights during the COVID era of easy money experienced a precipitous decrease in 2022.
The combined losses of Mark Zuckerberg, Changpeng Zhao, Jeff Bezos, and Elon Musk came to around $392 billion.
After Tesla Inc. issued a supply-chain alert on January 27, Elon Musk suffered a loss of $25.8 billion. The Bloomberg Wealth Index has experienced its fourth-largest one-day decline in its history.
The wealthiest Russians suffered losses of $46.6 billion on February 24, the day of the invasion of Ukraine. As soon as the European Union, Britain, and the United States imposed sanctions on Russian “oligarchs” and their companies, it became very impossible for business moguls to maintain control over their assets in the West.
The wealth of China’s richest people decreased by $64.6 billion on March 14, as the country’s markets continued to deteriorate. They have lost an additional $164 billion in 2022 due to difficult measures to halt COVID’s spread, a sluggish real estate market, and more focus on the technology industry, while trade tensions with the U.S. are harming the second-largest economy in the world.
These billionaires made gains: The news is excellent for some billionaires. Bill Gates and Warren Buffett’s net worth were eclipsed by Indian billionaire Gautam Adani.
The Kochs and the Mars family, two of the wealthiest families in the world, saw a surge in wealth in a similar vein.
