The fortune of tech billionaires has melted in 2022 (except that of the boss of TikTok)

The fortune of tech billionaires has melted in 2022 (except that of the boss of TikTok)

From Elon Musk to the duo of Google founders, Larry Page and Serguey Brin, via Mark Zuckerberg and Jeff Bezos, the stock market tumble has cost big names in tech billions this year.

The stock market crash of American tech giants has cost tens of billions of dollars in 2022 to the biggest fortunes on the planet. Here is the list of billionaires who have lost the most dollars this year:

Elon Musk

Elon Musk, September 3, 2020 in Grünheide near Berlin
Elon Musk, September 3, 2020 in Grünheide near Berlin © Odd ANDERSEN © 2019 AFP

Long at the top of the ranking of the richest people on Earth, Elon Musk, the boss of Tesla, SpaceX and Twitter, gave up the first place in favor of the French luxury magnate Bernard Arnault, boss of LVMH.

According to the Bloomberg Billionaires Index, Elon Musk has lost $140 billion since January, still retaining the tidy sum of $130 billion.

The evaporation of more than half of his fortune is mainly due to the fall of Tesla on Wall Street (-69% in 2022 as of December 28).

Previously pampered by investors, the action of the manufacturer of electric vehicles has continued to plunge on the stock market since the takeover of Twitter by Elon Musk at the end of October for 44 billion dollars.

From the dismissal of more than half of Twitter’s workforce to Donald Trump’s return to the social network, the stormy entrepreneur’s first months at the head of the platform were marred by multiple controversies.

mark zuckerberg

Mark Zuckerberg has shown several inaccuracies before Congress.
Mark Zuckerberg has shown several inaccuracies before Congress. © SAUL LOEB / AFP

The founder of Facebook, Mark Zuckerberg, has redoubled his efforts to promote the metaverse, this virtual world presented as the future of the internet by its promoters.

Investors are currently far from convinced, as evidenced by the collapse of the action of Meta, the parent company of Facebook and Instagram, which has dropped 65.5% since the start of the year. .

Mark Zuckerberg’s fortune has shrunk from $81 billion to $44.4 billion.

Highly dependent on advertising revenue, Meta also suffered in this sector, in a context of global inflation and increased competition.

Jeff Bezos

Jeff Bezos expands his real estate portfolio
Jeff Bezos expands his real estate portfolio © David Ryder / GETTY IMAGES NORTH AMERICA – AFP

Since stepping down as CEO of Amazon in July 2021, Jeff Bezos has devoted much of his time to space exploration through his company Blue Origin.

His wealth, however, remains strongly tied to the e-commerce giant’s share value, which has fallen more than 51% in 2022.

Jeff Bezos, who serves as executive director of Amazon’s board, lost more than $86 billion this year. His fortune is estimated at $106 billion.

The 58-year-old entrepreneur, owner of the American daily The Washington Post, told CNN in November that he intended to donate most of his wealth to charity during his lifetime.

Larry Page and Sergey Brin

Larry Page and Sergey Brin in 2008
Larry Page and Sergey Brin in 2008 © MICHAEL NAGLE / GETTY IMAGES NORTH AMERICA / AFP

The two founders of Google, Larry Page and Sergey Brin, are no longer at the helm of the company since they abandoned their leading functions in 2019 within the parent company Alphabet, which also owns YouTube or the electronic messaging service. Gmail.

Larry Page and Sergey Brin, however, remain on the board of directors of Alphabet, of which they are the largest individual shareholders.

The 40.5% drop since January in Alphabet’s stock, which has suffered from falling ad revenue and faces rivals like TikTok in the entertainment segment, has hit the two men’s fortunes.

That of Larry Page fell by $46.1 billion and that of Sergey Brin by $44.8 billion.

With 82.3 and 78.8 billion dollars respectively, they are however the 10th and 11th richest people on the planet.

Zhang Yiming

Zhang Yiming created the Chinese news site Jinri Toutiao in 2012, which would be worth 11 billion dollars today.
Zhang Yiming created the Chinese news site Jinri Toutiao in 2012, which would be worth 11 billion dollars today. © ByteDance Technology

The Chinese billionaire Zhang Yiming is an exception in this technological debacle.

The fortune of the owner of ByteDance, parent company of TikTok, increased by $10.4 billion in 2022 to reach $55 billion, making him the 23rd richest person in the world.

But TikTok is in the crosshairs of US authorities, who are concerned about possible links between the popular video-sharing application and Beijing.

The Biden administration has approved banning TikTok from federal employee phones and could force ByteDance to sell the US version of the app.