Shulou(Shulou.com)11/24 Report--

Beijing, December 30 (Xinhua) 2022 will be an unforgettable year for the vast majority of the world's richest people. The net worth of the 500 billionaires on the Bloomberg Billionaires Index lost nearly $1.4 trillion (9.75 trillion yuan) this year. Elon Musk, Twitter's new boss, lost $138 billion (961 billion yuan) in personal wealth from January 1 this year, losing his position as the richest man in the world.

The world's rich lose nearly 10 trillion yuan a year. Technology tycoons bear the brunt. In most cases, the more you rise, the worse you fall. Musk, Amazon founder Jeff Bezos (Jeff Bezos), Qian an founder Zhao Changpeng and Facebook CEO Mark Zuckerberg (Mark Zuckerberg) lost $392 billion (2.7 trillion yuan) in cumulative net worth.

Here are the main points of the decline in the wealth of the tech rich:

January: wake up the alarm

Musk lost 961 billion yuan a man, then the richest man in the world, losing $25.8 billion after Tesla issued a supply challenge warning on January 27. It was the fourth-largest one-day drop in the history of the Bloomberg Billionaires Index, heralding a bumpy year for Musk, both personally and financially.

April: Musk buys Twitter

The acquisition of Twitter dragged down Musk, shortly after disclosing his 9.1% stake in Twitter, Musk offered to buy the company directly at a valuation of $44 billion on April 14. Even for him, the price is too high. To fund the deal, he initially planned to borrow billions of dollars, use more of his Tesla shares and provide $21 billion in cash. Analysts accurately predict that this will require a sell-off of Tesla shares. As a result, the stock market worsened in the coming months, with Mr Musk trying to devise an escape route and engaged in a months-long legal dispute with Twitter. By the time the deal closed in October, Mr Musk's net worth was $39 billion lower than his initial offer.

September: Zuckerberg's meta-cosmic transformation is thwarted. Even in a difficult year for American tech giants, Zuckerberg's losses are outstanding. As of mid-September, his net worth had plummeted by $71 billion, or 57%, since January 1, as the high cost of his shift to meta-universe and the industry-wide downturn weighed on the share price of Facebook's parent company, Meta. During the year, he will drop 19 places in the Bloomberg Billionaires Index and will be 25th by the end of 2022, his lowest position since 2014.

November: FTX Bankman-Fried 's cryptocurrency exchange, FTX, fails after the liquidity crisis exposed huge loopholes in his imperial balance sheet and a lack of risk control. At the age of 30, he accumulated a fortune of $16 billion, which went up in smoke in less than a week. At his peak, his net worth reached $26 billion.

December: Musk loses the world's richest man

Musk was overtaken by Arnault as the richest man in the world and replaced by Arnault, chairman of Louis Vuitton. Although Arnault was not immune from the difficult 2022, losing about $16 billion for the whole year, it is dwarfed by Musk's loss of more than $138 billion.

How did Musk get this far? When the market is in the doldrums, he impulsively buys an unprofitable and vulnerable social media company, coupled with a lot of leverage, more supply chain problems and an insatiable desire for attention, and the money comes easily. and it goes quickly.

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.