The world’s wealthiest individuals have seen their fortunes diminish by billions following a significant global stock market crash. On Monday, key stock indexes plummeted, driven by disappointing US jobs data, sending major equities into a nosedive and unsettling markets worldwide.
The turmoil has been particularly severe for billionaires tied to major technology and AI-driven firms. The collective market value of leading American tech giants—Amazon, Apple, Meta, Alphabet, Microsoft, Nvidia, and Tesla—dropped by $1 trillion, reflecting a severe hit to their stakeholders.
Among the hardest hit was Jeff Bezos, the chairman and co-founder of Amazon. As Amazon’s stock fell more than 5%, Bezos experienced the largest single-day loss, with his net worth dropping by $8 billion to $179 billion, according to Forbes’ real-time tracker. Nvidia CEO Jensen Huang faced a $7.9 billion decrease in his wealth, bringing it down to $87 billion, after his company’s shares fell nearly 7%.
Meta’s Mark Zuckerberg saw his net worth decline by $7 billion to $164 billion, landing him third on the list of significant losers. Oracle’s Larry Ellison also suffered a $6 billion drop, reducing his fortune to $159 billion.
Elon Musk, the world’s richest individual, lost $6 billion, with his net worth falling to $221 billion as Tesla shares tumbled more than 5%.
Other tech billionaires also faced notable losses. Google co-founders Sergey Brin and Larry Page each saw their net worths drop by $4 billion. Microsoft co-founder Bill Gates experienced a $3 billion decrease, while former Microsoft CEO Steve Ballmer’s fortune fell by $4 billion. Laurene Powell Jobs, widow of Apple co-founder Steve Jobs, saw a reduction of approximately $580 million.
The widespread losses highlight the growing impact of global stock market crash on the fortunes of tech’s elite and underscore the current volatility in global financial markets.