10 Billionaires Who Lost Big Money This Year
The wealthiest people in the world have amassed fortunes beyond most people's wildest dreams -- but when you have so much money to your name, that also means you have the most to lose.
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The 10 richest people have lost a whopping $280 billion over the past 12 months. These losses are largely tied to the tanking stock performance in the tech sector, but the biggest monetary losers come from other industries as well, including the automotive, finance and commodities sectors.
See who made this list of wealthy people who have lost the most money from March 2022 to March 2023, ranked from smallest to largest losses, as identified by TradingPedia.
10. Steve Ballmer
March 2022 net worth: $91.4 billion
March 2023 net worth: $80.7 billion
Change in net worth: -$10.7 billion
Reason for drop in wealth: Drop in Microsoft stock prices and charitable donations
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9. Robin Zeng
March 2022 net worth: $44.8billion
March 2023 net worth: $33.4 billion
Change in net worth: -$11.4 billion
Reason for drop in wealth: Expansion costs and raw material costs related to his business, CATL, the world's biggest manufacturer of electric vehicle batteries
8. Warren Buffett
March 2022 net worth: $118 billion
March 2023 net worth: $106 billion
Change in net worth: -$12 billion
Reason for drop in wealth: Drop in the value of Berkshire Hathaway's investment portfolio
7. MacKenzie Scott
March 2022 net worth: $43.6 billion
March 2023 net worth: $24.4 billion
Change in net worth: -$19.2 billion
Reason for drop in wealth: Drop in Amazon stock prices and charitable donations
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6. Bill Gates
March 2022 net worth: $129 billion
March 2023 net worth: $25 billion
Change in net worth: -$104 billion
Reason for drop in wealth: Charitable donations
5. Sergey Brin
March 2022 net worth: $107 billion
March 2023 net worth: $76 billion
Change in net worth: -$31 billion
Reason for drop in wealth: Drop in Alphabet stock prices due to accuracy concerns about Bard, its experimental AI service
4. Larry Page
March 2022 net worth: $111 billion
March 2023 net worth: $79.2 billion
Change in net worth: -$31.8 billion
Reason for drop in wealth: Drop in Alphabet stock prices due to accuracy concerns about Bard, its experimental AI service
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3. Elon Musk
March 2022 net worth: $219 billion
March 2023 net worth: $180 billion
Change in net worth: -$39 billion
Reason for drop in wealth: $44 billion Twitter purchase and subsequent drop in Tesla stock prices
2. Gautam Adani
March 2022 net worth: $90billion
March 2023 net worth: $47.2 billion
Change in net worth: -$42.8 billion
Reason for drop in wealth: Accusations of accounting fraud, stock market manipulation and bypassing Indian securities laws
1. Jeff Bezos
March 2022 net worth: $171 billion
March 2023 net worth: $114 billion
Change in net worth: -$57 billion
Reason for drop in wealth: Drop in Amazon stock prices
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Net worth data is sourced from Forbes via TradingPedia and is accurate as of May 18, 2023.
This article originally appeared on GOBankingRates.com: 10 Billionaires Who Lost Big Money This Year
