Sep 15, 2022

Tech billionaires lost $50 billion as stock prices tumbled on Tuesday

Posted by in categories: biotech/medical, Elon Musk

Only two of the top 10 billionaires registered gains.

The world’s top richest people collectively lost $50 billion of their personal fortune as the New York Stock Exchange slumped on Tuesday amidst fears of rising inflation and looming inflation. Elon Musk, Jeff Bezos, Warren Buffet, Google Guys, nobody was spared as prices of stock held by them tumbled, Market Insider.

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Even as most people struggled to balance their work and life during the pandemic, the world’s top billionaires were struck gold and saw their fortunes soar. According to a CBS report in 2021, the first year of the pandemic gave a $4 trillion boost to the billionaires’ wealth, raising the call for a “wealth tax.”

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