Elon Musk and Bill Gates Lost Thousands of Trillions, Why?

Elon Musk and Bill Gates Lost Thousands of Trillions: Tech leaders include Elon Musk, Jeff Bezos, Bill Gates until Larry Page all lost so much money that their total wealth declined. This happened between January and May. What’s the reason behind it? According to data compiled by the Bloomberg Billionaires Index, the four famous figures have their total wealth decreased by a total of USD 140 billion or more than IDR 2,000 trillion. The reason is that the stock prices of technology companies have recently fallen due to the current unfavorable macroeconomic conditions, such as high interest rates, rising inflation and the war between Russia and Ukraine. As quoted by detikINET from the Economic Times, Elon Musk as the richest person in the world has lost around USD 46 billion in the last 5 months, while Amazon owner Jeff Bezos has fallen more than USD 53 billion. The founder of Microsoft Bill Gates since January has lost about USD 15 billion. Co-founder of Google, Larry Page, also fell in the range of USD 26 billion. The great decline experienced by Elon Musk This cannot be separated from the poor performance of the electric vehicle company Tesla, where the price has fallen by more than 33% in the last 6 months. Elon Musk owns about 15.6% of Tesla’s shares. Apart from Tesla, his wealth is also pretty much supported by his share ownership in the spacecraft company he controls, SpaceX, which is currently getting a higher valuation. Another technology frontman, namely Facebook founder Mark Zuckerberg, has also suffered the same fate due to the increasingly unfriendly economic situation. His wealth is estimated to have fallen by around USD 53 billion. What do you think about this topic Elon Musk and Bill Gates Lost Thousands of Trillions, Why? Let here you say in the comment below! Read More Article Like This We Love You To Like Our FB-Page