According to the Bloomberg Billionaires Index, the world's richest tech tycoons — 20 tech billionaires including Mark Zuckerberg, Bill Gates and Larry Ellison — have lost more than $480 billion in book wealth because of the turmoil in the stock market and the evaporation of their companies' market value.
This week's Wall Street saw disappointing earnings reports from a number of tech giants, which not only sparked recession fears and sent stock prices down, but also dragged down the wealth of the world's richest people.
During the 2020~2021 period, in order to cope with the impact of the new crown epidemic, the US government has made every effort to open the gates and release water, there is serious excess liquidity in the capital market, and the valuation of technology giants that have become social infrastructure is also rising.
You may remember Virgin Galactic, Blue Origin and SpaceX space travel in 2021, when the rich were very happy to create this epic business scene, and this year the market is seriously illiquid, and this big scene is gone.
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