Billionaires in Tech Suffer $33 Billion Loss Amid Market Turmoil
Saturday, 7 September 2024, 01:20
Market Losses Impacting Billionaires
Amazon's decline has caused billionaires in tech, including Elon Musk and Jeff Bezos, to collectively lose $33 billion. This financial setback is a response to a broad market sell-off exacerbated by a disappointing U.S. employment report.
Key Figures
- Elon Musk saw a drop of $10.7 billion after Tesla shares fell 8.45%.
- Jeff Bezos lost $6 billion with Amazon's shares down over 3%.
- Mark Zuckerberg's net worth dropped by $5.7 billion as Meta's stock decreased more than 3%.
- Michael Dell and Larry Page lost $5.1 billion and $5 billion, respectively.
The tech sector's vulnerability to economic sentiment is evident as the market faces uncertainty driven by inflation and rising interest rates.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.