The reason behind this toll is pretty obvious. The inflation in 2022 was pretty high when compared to previous years. Digital marketing also faced a tough time and those that actively invested in it suffered great losses.
Microsoft faced a sudden plummet in shares in 2022 as the demand for computers suddenly dropped. People have stopped using personal computers however this was one change that Microsoft was not prepared for.
Due to this, Steve Balmer and Bill Gates lost big bucks. Steve Balmer was the CEO of Microsoft for 14 years. He left the position in 2014. He has a good amount of shares in Microsoft and when the company faced a loss of 28% of its shares, Balmer lost $19.4 Billion. He now stands at a net worth of $86.2 Billion.
Bill Gates is a name we’re all familiar with. He is a co-founder of Microsoft. In 2022, his net worth dropped to $110 Billion after he suffered a loss of $28.6 Billion. Although he does have investments spread across the globe, Microsoft has his biggest shares and after the company’s major downfall, Gates suffered a huge loss too.
Google also suffered a great loss due to the difficulty faced in digital marketing. This affected two of the Billionaires on our list. They include Sergey Brin and Larry Page, both of who are co-founders of Google. Both of them suffered a loss of $44 Billion each.
Sergey Brin has big shares in Google’s parent company, Alphabet. After the humongous loss, Brin’s net worth now stands at $79.5 Billion.
Larry Page also has huge shares in Alphabet - he owns 6% of Alphabet. Since Alphabet suffered a great deal, it slowed its hiring process and reduced handing out perks in 2022. Larry Page’s net worth at the end of the year was $83.1 Billion.
Another company that caused 2 of the Billionaires on our list to suffer is Amazon. The first is Jeff Bezos, the founder of Amazon and Blue Origin. His net worth at the end of 2022 is $107 Billion. Although he stepped down as the CEO of Amazon, his shares are still the largest in the company. However, we doubt he was happy about his amount of shares when Amazon suffered a loss of 50% last year. This caused him to lose $85.2 Billion.
The second person that suffered from the downfall of Amazon is MacKenzie Scott. Scott is a novelist and philanthropist. Similar to that of her ex-husband Bezos, Scott’s net worth also plummeted at the end of 2022. It was noted to be $19 Billion. She owns a 3% share in Amazon. Despite facing a huge loss, Scott claims that she donated $2 Billion last year to organizations that support the underprivileged.
Next, we have the chairman of Contemporary Amperex Technology, Zeng Yuqun. He lost $20.7 Billion last year which rounded off his net worth to $32.5 Billion. Zeng has 23% stakes in the largest electric vehicle company. Since the demand for electric vehicles in China significantly reduced in 2022, the company suffered a great loss and so did Zeng.
Mark Zuckerberg is also one of the unfortunate people on our list today. The person that used to be the 6th richest in the world is now in the 25th position. This is due to massive losses due to the recession and problems with digital marketing at Meta. Even after laying off 11,000 employees, the company still faced a lot of trouble. Zuckerburg’s net worth at the end of 2022 was $45.6 Billion.
Binance also saw its worst in the past year. Changpeng Zhao is the co-founder and CEO of Binance. He lost $83.3 Billion and now stands with a net worth of 12.6 Billion. Not only did Binance face a loss, but it is also under scrutiny from investors. It will also go under investigation since allegations of money laundering have been claimed against it.
Lastly, we have Elon Musk. He was the richest man on Earth until last year when he moved down to the second place. He lost $132 Billion in 2022 (which is a unique statistic as per GuinnessWorldRecords) and ended up with a net worth of nearly $140 Billion. Since most of his shares come from Tesla, it took a huge toll as the demand for electric cars decreased. Twitter’s takeover also didn’t play a positive role for Musk and ended up decreasing his popularity and wealth.
Read next: Global Market Research Company Forrester Suggests Twitter Advertisers Invest Elsewhere
by Arooj Ahmed via Digital Information World
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