The world's top 10 richest people lost a collective $44 billion due to equity devaluations amid the COVID-19 pandemic. The worlds richest man Jeff Bezos led the pack, alone shedding $9 billion in wealth as Amazon shares slumped, as per Bloomberg.

Bezos was closely followed by tech mogul Elon Musk, who lost $8.5 billion as company Tesla Inc. shares teased bear-territory over a three-day slide, the publication said.

Facebooks Mark Zuckerberg lost $4.2 billion, while Microsoft Founder Bill Gates wealth lowered by $2.9 billion. Other on the list include Steve Ballmer who lost $4.8 billion, Larry Page lost $3.6 billion, Sergey Brin lost $3.5 billion, MacKenzie Scott lost $3.2 billion, Larry Ellison lost $2.4 billion, and Jack Ma lost $1.6 billion.

The wealth reversal on September 4 was a surprise as markets had so far stayed afloat despite grim economic realities worldwide. Case in point: both Musk and Zuckerberg posted enormous $4 billion a day wealth gain; while Bezos became the worlds richest person and his ex-wife MacKenzie Scott the worlds richest woman.

First Published on Sep 6, 2020 10:42 am

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Worlds 10 richest tech giants shed $44 billion wealth, Jeff Bezos tops list with $9 billion loss - Moneycontrol