Just after the New Year, a "Buffett" was lost, and the wealth of giants such as Musk evaporated by $118 billion

2022 has just passed five weeks, but for some tech giants, the stock market volatility is like a nightmare. At the start of the new year, european and American growth stocks are very depressed, and elon Musk, Mark Zuckerberg and six other tech giants have lost $118 billion in wealth, surpassing Warren Buffett's entire net worth of $114 billion.

According to the Bloomberg Billionaires Index, in less than six weeks, tech giant Tesla and SpaceX CEO Musk evaporated $32 billion out of thin air. However, as of Friday's close, he still holds the leading position in the global ranking with a wealth of $239 billion.

Not only Musk, But Meta CEO Zuckerberg has lost more, having already lost $36 billion. You know, Facebook stock plunged a staggering 26 percent last week. The social media conglomerate's market capitalization plummeted by about $240 billion, the largest one-day market capitalization drop in the history of U.S. businesses.

Amazon founder Jeff Bezos, Microsoft co-founder Bill Gates and former Microsoft CEO Steve Ballmer have fallen by $9 billion to $10 billion, respectively, this year. Similarly, Oracle chairman and co-founder Larry Ellison's fortunes shrank by $6 billion.

Google's parent company Alphabet co-founders Larry Page and Sergey Brin were slightly better, alphabet shares edged down 1 percent this year, and the wealth of the two founders shrank by less than $2 billion.

The eight tech industry heroes, plus Buffett and LVMH CEO Bernard Arnault, occupy the top 10 spots on Bloomberg's rich list. Unlike the eight shrinking billionaires above, Berkshire Hathaway CEO Buffett's net worth has increased by about $5 billion this year.

A large number of investors have dumped growth stocks this year, and the Fed is expected to raise interest rates to curb inflation. Tech companies often get aggressive valuations, and investors believe that the tech giants' cash flow will increase dramatically over time. However, if prices rise rapidly and the rate of return on cash deposits and bonds increases, the relative value of future rates of return declines.

Value stocks such as Berkshire climbed as a result. Buffett's companies own insurance companies like Geico and National Indemnity and hold billions of dollars in bank of America and American Express, which would benefit from higher interest rates. Not only that, Buffett also owns big brands like See's Candies and holds stakes in Apple and Coca-Cola, companies that can raise prices to offset rising costs, while their consumers have a strong stickiness and loyalty, and customers don't flow to competitors. Ginger is still old and spicy, and in front of veteran capitalists, the tech giants are still too young.