Here are the tech billionaires who lost the most money in the stock market crash of 2022. The impact of inflation, a strong U.S. dollar, and a challenging digital ad market were felt by tech companies.
From 2000 until 2014, Ballmer served as Microsoft’s chief executive officer. The majority of his fortune is related to Microsoft stock. He’s worth $86.2 billion after this year’s loss.
In 2022, the company’s growth slowed due to less demand for personal computers and a stronger dollar. The company’s stock price dropped by 28% during the course of the year as Windows sales declined. Microsoft informed investors to anticipate low sales of personal computers in the coming year.
Read more: FTX bankruptcy: US investigators look into $372 million hacking theft
Mark Zuckerberg
Mark Zuckerberg, the CEO of Meta, lost $79.9 billion. Zuckerberg was the sixth richest person in the world at the end of last year, but he will fall to the 25th spot with $45.6 billion by the end of 2022.
This year, the revenue of Meta, formerly Facebook, decreased due to a prospective economic slump and a difficult year for digital advertising.
Zeng Yuqun
Zeng Yuqun, the chairman of Contemporary Amperex Technology, suffered a $20.7 billion loss.
Zeng’s 23 percent ownership in Contemporary Amperex Technology, the leading supplier of batteries for electric vehicles, is responsible for the majority of his wealth. At the conclusion of the year, he had $32.5 billion in wealth.
In April, the company reported its largest quarterly earnings decline, with a 24% decline in net income. Nickel, a key component of electric-car batteries, and other raw materials experienced shifting prices earlier in the year.
Bill Gates
Gates has investments in companies, real estate, and land, but his Microsoft stock is his most valuable asset.
Due to falling Windows sales and the company’s estimate of sluggish cloud revenue growth, Microsoft’s stock lost close to 30 percent of its value this year.
MacKenzie Scott
Novelist and philanthropist MacKenzie Scott suffered a $37.3 billion loss. Similar to her ex-husband Jeff Bezos, Scott’s net worth was negatively impacted by the decline in Amazon shares this year. A 3% holding in Amazon, whose shares have fallen by 50% this year, accounts for the majority of Scott’s fortune. She is now worth $19 billion.
Sergey Brin
Google co-founder Sergey Brin lost $44 billion. As Alphabet and other tech businesses struggled with a challenging year for digital advertising, Brin and his co-founder Larry Page lost a combined $89 billion this year.
Brin currently has a net worth of $79.5 billion.
Read more: Social Security update: Who’s getting an early January 2023 direct payments worth $914?
