As 2022 ended, there have been reports regarding the wealthiest people who lost billions in 2022. As per the reports, $1.4 trillion is the whole estimated amount lost by the 500 wealthiest men in the world.
Even the wealthiest people in the world have had financial difficulties due to the downturn in the global economy, which the United Nations Department of Economic and Social Affairs described as depressing.
Most of the richest people who lost billions were the people who run businesses in the tech sector. Are you wondering who all these billionaires are? Here are the 10 billionaires who lost billions in 2022.
|Ranking||Name||Net Worth (Lost)|
|10||Bill Gates||$27.3 billion|
|9||Francoise Bettencourt Meyers||$30.7 billion|
|8||MacKenzie Scott||$31.7 billion|
|7||Sergey Brin||$38.1 billion|
|6||Bernard Arnault||$38.2 billion|
|5||Larry Page||$39.2 billion|
|4||Jeff Bezos||$65.7 billion|
|3||Elon Musk||$66.4 billion|
|2||Changpeng Zhao||$72.6 billion|
|1||Mark Zuckerberg||$87.3 billion|
10. Bill Gates
Bill Gates, the former wealthiest man in the world, lost about $27.3 billion in 2022. He has lost this much amount of his wealth not due to the stock declines, but because of his charities.
The co-founder of Microsoft, Bill Gates wrote on Twitter in July that he is planning to give all his wealth to a foundation and is going to eventually move from the list of the world’s richest people.
According to reports, he has donated about $20 billion to the Bill and Melinda Gates Foundation, his philanthropic fund.
9. Francoise Bettencourt Meyers
Francoise Bettencourt Meyers, who is the L’Oreal founder’s great-granddaughter, faced a $30.7 billion financial loss on her 33% ownership stake in the company.
A significant factor in her loss is the October decline in L’Oreal stock, which was brought on by Covid-19 lockdowns in China that had an impact on the company’s crucial luxury products sector.
8. MacKenzie Scott
MacKenzie Scott is a philanthropist, who lost about $31.7 billion as a result of her charitable works. Scott was married to Jeff Benzo, the founder of Amazon, and was divorced in 2019.
Scott earned 25% of Jeff’s stock in Amazon following their divorce, which amounted to roughly 4% of the company. She committed to giving away half of her money over her life when she signed the Giving Pledge in 2019. She has donated $12 billion to numerous charities since 2020.
7. Sergey Brin
Sergey Brin, a board member and co-founder of Google, lost $38.1 billion this year. It was because Google’s parent firm Alphabet failed to achieve expectations for the profit it was expected to make in the September quarter from its digital advertising division.
6. Bernard Arnault
LVMH’s Bernard Arnault, who briefly held the title of the richest person in the world in 2021, is now included among the billionaires who have suffered the worst losses after seeing his net worth fall by $38.2 billion.
The French billionaire lost $4.06 billion alone in September as a result of rising interest rates and new inflation figures.
Although LVMH sales increased compared to the prior year, in part due to the greater purchasing power of American consumers, his net worth might still improve.
5. Larry Page
Larry Page, who co-founded Google and owns 12% of Alphabet alongside Sergy Brin, had a similar decline in net worth. His losses totaled $39.2 billion, most likely as a result of Alphabet missing its goals and probably experiencing a decline in YouTube ad sales in its report from September.
4. Jeff Bezos
Jeff Bezos, the founder and executive chairman of Amazon, has seen his wealth decline for some time. In 2022, he will have lost about $65.7 billion from his wealth. He achieved the fourth spot in the top 10 billionaires who lost billions in 2022.
Benzo is considered now the fourth wealthiest man in the world. Amazon has decreased by more than $90 billion since July 2021.
After his online retail business predicted fewer holiday sales, he lost $65.7 billion this year and even as much as $25 billion for one night on October 27. When the market opened the following day, however, stock prices had recovered bringing his overnight loss down to $7.5 billion.
3. Elon Musk
The CEO of Tesla, Elon Musk has lost approximately $66.4 billion. Musk purchased Twitter for $44 billion in 2022. The takeover of Twitter is the primary cause for Musk to lose a huge amount of his net worth which was approximately $9 billion.
Due to Twitter’s failure to generate an annual profit in three of the previous five years, it now has numerous financial obstacles in trying to turn the company around. When Tesla’s stock plunged 8% in May, Musk suffered financial losses earlier in 2022.
2. Changpeng Zhao
Zhao, the CEO, and founder of Binance, has lost $72.6 billion this year. He formerly had a worth of $96 billion and his crypto meltdown caused digital currencies to lose $2 trillion in value. He secured the second spot in the top 10 billionaires who lost billions in 2022.
In September, Binance claimed that the crypto market is crashing. The crash was linked to macroeconomic issues, as the US dollar grew stronger in relation to bitcoin.
1. Mark Zuckerberg
Mark Zuckerberg, the founder of Facebook and CEO of Met, is one of the wealthiest men who has the greatest net loss in 2022. He has lost an estimated amount of $87.3 billion of his wealth.
He has lost more than half of his wealth since September 2021, knocking him off the list of the top 10 richest Americans he had been on since 2015.
The steep decline in wealth was brought on by Meta’s falling price. Meta shares have fallen by 57% since the same period. The decline has been mostly brought on by declines in advertising revenue as a result of Apple’s changes to its privacy policies and competition from TikTok, another social media app.
These are only the top 10 billionaires who lost billions in 2022. The former CEO of Microsoft and the owner of the Los Angeles Clippers, Steve Ballmer, has witnessed a decline of more than $20 billion in 2022.
Phil Knight, the chairman of Nike has lost around $18.3 billion from his wealth in 2022.
The co-founder of Oracle, Larry Ellison lost approximately $16 billion in 2022, but he remains the 7th richest person in the world.
$9.8 billion was lost by Leonard Lauder, the chairman emeritus of The Estee Lauder Companies. The Dell Technology CEO, Michael Dell has faced a loss of $7 billion in 2022. He is one of the 25 wealthiest people in the world.
Sam Bankman-Fried, the founder and former CEO of FTX, and the American rapper, Kanye West have been dropped off the list of billionaires in 2022.