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Evening Standard
Evening Standard
Business
Simon Hunt

World’s richest tech execs lose over $400 billion in 2022

Elon Musk Mark Zuckerberg Meta Facebook Twitter Inc. United States

Facebook CEO Mark Zuckerberg laid off over 10,000 Meta employees in 2022 (Niall Carson/PA)

(Picture: PA Archive)

Six of the world’s richest tech founders and CEOs have lost over $400 billion from their wealth since the start of the year, as a wave of supply chain disruption, soaring inflation and surging interest rates helped to reverse the heady gains made by tech stocks at the height of the coronavirus pandemic in 2021.

Tesla CEO Elon Musk, Microsoft founder Bill Gates, Meta’s Mark Zuckerberg, Amazon’s Jeff Bezos and Alphabet’s Larry Page and Sergey Brin lost a combined $427 billion (£353 billion) from their wealth since January, according to the Bloomberg Billionaire’s Index.

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