Oct 31, 2022

Tech billionaires lost nearly half a trillion dollars in 2022

Posted by in category: biotech/medical

Times after the pandemic have not been good for tech giants.

The world’s 20 richest tech billionaires have lost close to half a trillion dollars in 2022 so far. Fears of a recession and increased interest rates have dipped revenues of tech companies in the U.S., and market valuations of their companies have tumbled thereafter, Wall Street Journal.

Mark Zuckerberg might be the poster boy for how falling revenues of tech companies also shrink the personal fortunes of the founders since most of their wealth is associated with stocks of the companies they have founded.

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