Billionaires’ Wealth Hit by Market Tsunami, Billions Wiped Out Overnight

Kathmandu: He global economy has once again been shaken by volatility in the technology sector.

Within just 24 hours, the world’s top billionaires witnessed a massive erosion of their wealth, with billions of dollars wiped out following a steep decline in U.S. stock markets.

Shares of major technology giants — Tesla, Meta (Facebook), Amazon, and Oracle — plunged sharply, directly impacting the fortunes of their founders and major shareholders.

Among the world’s top 10 richest individuals, Elon Musk, Larry Ellison, Jeff Bezos, and Mark Zuckerberg suffered the heaviest losses. Zuckerberg, in particular, faced the steepest decline in net worth, while only two billionaires in the top 10 saw any increase in their wealth.

According to the Bloomberg Billionaires Index, Elon Musk, the world’s richest person, lost $15.3 billion in the past 24 hours, reducing his total net worth to $457 billion.

Meta–Facebook founder Mark Zuckerberg recorded the largest single-day loss, with his wealth plummeting by $29.2 billion to $235 billion, pushing him down to fifth place among global billionaires.

Larry Ellison, chairman and co-founder of Oracle, who recently climbed to the second spot after adding $124 billion to his wealth this year, also faced a setback. His total net worth fell by $19.8 billion to $317 billion within a day.

Similarly, Amazon founder Jeff Bezos, the world’s third-richest person, saw his fortune drop by $6.6 billion, bringing it down to $246 billion.

Other top billionaires also experienced notable declines. French luxury magnate Bernard Arnault’s wealth dipped by $2.95 billion to $194 billion; another billionaire at eighth position saw his fortune fall by $5.02 billion to $181 billion; Nvidia’s Jensen Huang lost $3.71 billion, dropping to $176 billion; and Michael Dell, at tenth place, saw a $2.74 billion fall to $165 billion.

In contrast, two billionaires managed to increase their fortunes. Larry Page, co-founder of Google, rose to fourth place as his net worth grew by $5.31 billion to $244 billion, while Sergey Brin, another Google co-founder, saw his wealth rise by $4.92 billion to $228 billion.

Analysts attribute the sharp fluctuation to investor anxiety over tech stock valuations, rising interest rates, and uncertainty surrounding the future of the digital economy.

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