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In the worst half ever, billionaires like Elon Musk, Jeff Bezos, and others lose $1.4 trillion

BusinessIn the worst half ever, billionaires like Elon Musk, Jeff Bezos, and others lose $1.4 trillion

According to the Bloomberg Billionaires Index, the wealth of Elon Musk, founder of Tesla, lost almost $62 billion in the first half of 2022, while the wealth of Jeff Bezos, CEO of Amazon, lost approximately $63 billion, and the wealth of Mark Zuckerberg, co-founder of Facebook, lost more than 50 percent of its value.

According to the index, the wealth of the world’s 500 richest individuals decreased by $1.4 trillion during the first half of 2022, marking the six-month period as the one with the greatest decline in the history of the global billionaire class. Continue reading: Today, July 2, the price of gold has increased by Rs 930 from yesterday. Find out how much gold is selling for in several places, including Delhi, Patna, Lucknow, Kolkata, Kanpur, and Kerala.

According to the index, governments and central banks deployed extraordinary stimulus measures in the aftermath of the Covid-19 epidemic. These efforts boosted the value of everything from technology firms to cryptocurrencies that were impacted by the outbreak in their respective sectors. Continue reading: The following are the redemption codes for Garena Free Fire for today, July 2: Check the website for instructions on how to redeem.

The highest-flying equities and the billionaires who own them are swiftly losing their altitude as a result of nations and governments raising interest rates in an effort to combat growing inflation.

According to the index, Tesla Inc. saw its worst quarter ever during the three months that ended in June, while Amazon.com Inc. experienced the worst drop in value since the dot-com bubble burst.

Despite suffering a loss of wealth more than $60 billion, the co-founder of Tesla still has the highest fortune in the world, with a value of $208.5 billion. Bezos, the founder of Amazon, comes in second place with a net worth of $129.6 billion.

The list ranks Bernard Arnault, the wealthiest person in France, in third position with a fortune of $128.7 billion, followed by Bill Gates, who has a fortune of $114.8 billion.

At the beginning of the year, there were only four persons in the world whose fortunes were more than $100 billion: Musk, Bezos, Arnault, and Gates. While there are now 10 people in the world who are worth more than that, including Mark Zuckerberg, who is placed 17th on the list with a total wealth of $60 billion.

Because of the turmoil that has taken place in the digital asset market this year, the fortunes of Changpeng Zhao, a pioneer in the cryptocurrency industry who made his debut on the Bloomberg Billionaires Index in January with an estimated worth of $96 billion, have decreased by approximately $80 billion.

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