A sharp decline in global stock markets has wiped out $134 billion from the fortunes of the world’s 500 wealthiest individuals overnight, spurred by growing fears of a U.S. recession.
Tech moguls, who rank among the wealthiest, were hit hardest, collectively losing $68 billion, according to Bloomberg’s estimates.
Among the notable losses, Mark Zuckerberg, Sergey Brin, and Larry Page each saw their fortunes diminish by more than $3 billion. Elon Musk’s net worth dropped to $235 billion as of August 2, based on the Bloomberg Billionaires Index.
Amazon experienced the most significant impact, with its stock plummeting nearly 9% in a day, erasing almost $16 billion from Jeff Bezos’ net worth. This loss ranks as Bezos’ third-largest, following a $36 billion decrease in April 2019 due to his divorce settlement. His current net worth stands at around $191 billion.
