The world’s richest people have struggled to maintain their massive wealth in 2022 with many stocks down year-to-date and the overall market seeing a pullback. Here’s a look at how the top ten billionaires have fared.
What Happened: The top 10 richest people in the world have lost a cumulative $192.9 billion year-to-date in 2022, according to the Bloomberg Billionaires Index. This represents an average decline of $19.3 billion for each member on the top ten list.
Here is the current leaderboard with their current wealth and year-to-date change.
Elon Musk, CEO Tesla Inc TSLA: $211 billion, -$59.5 billion
Jeff Bezos, founder Amazon.com Inc AMZN: $146 billion, -$46.1 billion
Bernard Arnault, CEO LVMH: $137 billion, -$41.0 billion
Bill Gates, co-founder Microsoft Corporation MSFT: $123 billion, -$14.9 billion
Larry Page, co-founder Alphabet Inc GOOGGOOGL: $104 billion, -$24.5 billion
Mukesh Ambani, Chairman Reliance Industries: $101 billion, +11.3 billion
Sergey Brin, co-founder Alphabet Inc: $99.6 billion, -$23.9 billion
Gautan Adani, founder Adani Group: $95.8 billion, +19.3 billion
Steve Ballmer, former Microsoft CEO: $95.4 billion, -$10.3 billion
Why It’s Important: The SPDR S&P 500 ETF SPY is down 14.1% year-to-date. The market has been in a correction since Jan. 3, lasting longer than the average correction.
Tesla shares are down 41.4% and Amazon shares are down 28.2% year-to-date, severely impacting the wealth of the two richest people in the world, who have lost a combined $105 billion of their wealth.
Only three of the top 10 have added to their wealth in 2022 with a 2.9% increase in the value of Berkshire Hathaway shares helping boost the wealth of Buffett and two Indian billionaires, Ambani and Adani, seeing strong gains and strong movement up the top 10 list.
Only five of the top 25 richest people in the world have positive gains on the Bloomberg Billionaires Index year-to-date, including Carlos Slim (+4.2 billion) and Michael Dell (+89.4 million) at 12th and 21st, respectively.
Outside of the top 10, Meta Platforms FB co-founder Mark Zuckerberg has seen one of the biggest year-to-date drops, losing $55.0 billion in wealth and dropping out of the top 10.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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