Russia (bbabo.net), - The five richest businessmen in the world have lost $85.07 billion of capital since the beginning of this year against the backdrop of total sell-offs in financial markets, this mainly affected the tech giants during the powerful sell-offs that affected global markets last week, writes business insider.

Losses in the stock market reduced the fortune of the head of SpaceX and Tesla, Elon Musk, by $ 27 billion compared to the beginning of this year - to 243 billion. This is also 100 billion less than in November last year, follows from the billionaires index compiled by Bloombe. Amazon co-founder Jeff Bezos is down $25 billion and Microsoft co-founder Bill Gates is down $9.5 billion. Google's Larry Page is down $12 billion, as is Meta's Mark Zuckerberg.

All businessmen suffered losses due to the fall in the shares of their technological assets. Thus, the high-tech Nasdaq Composite index fell by 8% last week, which was the worst indicator since the spring of 2020, when the outbreak of the pandemic collapsed all world markets. The Nasdaq is down 13% since the beginning of the year. Among the reasons, experts cite the rise in interest rates in the US and high inflation. The only billionaire in Bloombe's top 5 who didn't lose money last week was Louis Vuitton Moet Hennessy CEO Bernard Arnault, but he's still down $10.5 billion since the start of the year.

This week, the Fed's Federal Open Market Committee will hold its two-day meeting, where investors expect the regulator to announce the end of its bond buyback program and announcing an imminent rate hike to curb inflation, which could further reduce the wealth of the world's richest people, and also collapse not only American sites.

bbabo.Net