Two of the world’s richest people have lost large portions of their net worth due to the fall of the stock prices of the companies they lead. Here’s a look at how much the net worth of Elon Musk and Mark Zuckerberg has fallen in 2022.
What Happened: Tesla Inc (NASDAQ:TSLA) CEO Elon Musk remains the richest person in the world, but his net worth has dropped significantly in 2022.
Musk is worth $199 billion according to the Bloomberg Billionaire’s Index, placing him ahead of Amazon.com Inc (NASDAQ:AMZN) founder Jeff Bezos at $169 billion.
Musk’s net worth has decreased by $71.7 billion in 2022 as the stock of Tesla has fallen 27.7% year-to-date. Much of Musk’s net worth is tied to the price of Tesla and the valuation of privately held SpaceX.
Zuckerberg, the CEO of Meta Platforms (NASDAQ:FB), has watched his net worth fall by $50.1 billion in 2022. He fell out of the top 10 billionaires list earlier this year and ranks 14th at $75.4 billion at the time of writing.
Shares of Meta Platforms are down 41% year-to-date. The stock fell after earnings and had the biggest one-day loss in U.S. history of stocks, losing $230 billion in value.
Zuckerberg’s net worth fell by $30 billion on the one-day drop. He had been a member of the top 10 list from Bloomberg since July 2015.
Related Link: Warren Buffett Moves Up The Top 10 Billionaires List As Berkshire Hathaway Hits All-Time Highs
Why It’s Important: Musk became the first person to hit a net worth of more than $300 billion in November 2021. With the rising value of Tesla shares, Musk was worth more than several top 10 members combined.
Musk’s net worth had even reached a point in 2021 where he had enough money to purchase every MLB, NBA, NFL and NHL team. With the drop in net worth, Musk now falls shy of the $260 billion needed to accomplish this massive feat.
Berkshire Hathaway Inc (NYSE: BRK-A)(NYSE: BRK-B) CEO Warren Buffett is the only member of the top 10 to have a positive gain in net worth in 2022. He's ranked sixth on the list at $112 billion with a $3.4 billion increase in net worth.
Only three of the top 25 on the list have increased their net worth in 2022.
Despite Musk and Zuckerberg losing over a combined $90 billion to their net worth, they remain two of the 15 richest people in the world.
Photo: Steve Jurvetson/Flickr and Anthony Quintano/Wikimedia
