In Pictures: These billionaires have seen some serious networth drops in 2022

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In Pictures: These billionaires have seen some serious networth drops in 2022

Crypto and tech drops force a networth erosion for these billionaires

Published: May 28, 2022 10:05 Nivetha Dayanand, Web Editor

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Changpeng Zhao | Rank: 96 | Networth: $16.4b | Zhao is the CEO officer of Binance, the world’s largest cryptocurrency exchange by trading volume. Binance’s founder Changpeng Zhao has lost more money than anyone in the history of the world, said a paper focusing on networth rankings. Zhao tweeted a few days ago that he was “poor again” after losing billions in cryptocurrency following the market crash, which wiped out the fortunes of many smaller investors too. His networth plunged $79.5 billion since last year. Image Credit: Bloomberg

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Facebook CEO Mark Zuckerberg delivers the keynote speech at F8 — Mark Zuckerberg | Rank: 13 | Networth: $72.1b | Mark Zuckerberg has also seen his fortune take a dive this year as Facebook shares have traded down 42 per cent year-to-date. The Meta chief saw his networth drop from $122.5 billion in January to $72.1 billion. He lost over $53 billion in one year. Image Credit: AP

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20201125 jeff bezos — Jeff Bezos | Rank: 2 | Networth: 139 billion | Even though Jeff Bezos has stepped away from his top role at Amazon, the billionaire still owns roughly 10 per cent of the e-commerce giant. Amazon shares have fallen more than 35 per cent so far this year, taking a hit from last month’s first reported quarterly loss in seven years. He lost a little over $53.2 billion. Image Credit: Reuters

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Stock - Elon Musk — Elon Musk | Musk is the chief executive of Tesla, the world's most valuable carmaker. While his decision to buy Twitter has been the talk of the town, his networth nosedived in 2022. Tesla stock is down roughly 44 per cent year-to-date, causing Musk’s fortune to drop from $270.1 billion in January to $224 billion in May – a drop of $46.4 billion. Image Credit: Bloomberg

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Bernard Arnault | Rank: 3 | Networth: $113b | Arnault owns a 47.5 per cent stake in LVMH and has watched as LVMH’s American ADR dropped 28 per cent so far this year. China's current zero-COVID policy, with its attendant lockdowns and economic impact have taken their toll on consumers' financial security. Last year, the country accounted for 21 per cent of the world's personal luxury goods market, behind North America and Europe, according to consultancy Bain & Co. Arnault’s wealth plunged by $44.7 billion in a year. Image Credit: Bloomberg

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FTC Larry Page-1615628375915 — Larry Page | Rank: 6 | Networth: $102b | Another tech mogul, Google co-founder Larry Page, has seen networth erode by $26.1 billion since May 2021. Image Credit:

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Sergey Brin | Rank: 8 | Networth: $98.1b | Google co-founder Sergey Brin’s net worth plunged $25.4 billion to drop him to eighth on the list of richest. Image Credit: Bloomberg

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Francoise Bettencourt Meyers | Rank: 14 | Networth: $70.1b| French businesswoman and the granddaughter of the founder of L’Oreal, Francoise Bettencourt Meyers, has a networth of $70.1 billion. Meyers lost $23.5 billion in the past one year. Image Credit: GN Archive

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MacKenzie Bezos Scott — MacKenzie Scott | Rank: 34 | Networth: 34.4b | Scott is a major shareholder of Amazon, the world's biggest online retailer. Just like her former spouse, Scott’s networth plummeted by $21.9 billion to $34.4 billion Image Credit: AP

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Zeng Yuqun | Rank: 35 | Networth: $33.8b | Zeng is the chairman of Contemporary Amperex Technology Co., the largest supplier of electric vehicle batteries in the world. The Ningde, China-based company was founded in 2011 and reported revenue of 50.3 billion yuan ($7.3 billion) in 2020. CATL started trading publicly on the Shenzhen stock exchange in June 2018. Yuqun’s networth plummeted 36.4 per cent to $33.8 billion since May 2021. Image Credit: Bloomberg

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In Pictures: These billionaires have seen some serious networth drops in 2022

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Photos Business

In Pictures: These billionaires have seen some serious networth drops in 2022

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