World’s richest people losing billions of dollars
October 28, 2022 - Market instability has cost the world’s richest people billions of dollars in 2022, with tech tycoons taking the brunt.
Just a year ago, technology billionaires were seeing their wealth soar, with markets near all-time highs and venture capitalist pumping large sums into startups.
Roll on 12 months and its quite a different financial landscape as stock prices tumble and inflation surges.
At of the time of writing (October 28, 2022), the wealthiest tech tycoons are taking the brunt of the losses, with the 10 biggest losers accounting for a combined decline of more than $485 billion compared to 12 months ago.