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Jeff Bezos, Elon Musk Lose a Combined $18 Billion Amid Inflation, Stock Market Drop

The world's richest men were not immune to Tuesday's market dip.


Investors are feeling the effects of new inflation data and hiked interest rates that hit US markets — and the in the world are not immune.

Gareth Cattermole/Getty Images
Gareth Cattermole/Getty Images

According to Bloomberg's Billionaire Index, the world's top five richest billionaires lost a combined $25 billion in during Tuesday's market plunge.

It was the lowest one-day drop the has seen since June 2020.

saw the biggest drop-off of the five men, losing an estimated $9.8 billion in his net worth, followed by rival and Tesla CEO who stood to lose $8.4 billion at the same time.

Data from Bloomberg's Billionaire Index as of Wednesday afternoon.

LVMH CEO lost around $4.06 billion of net worth, followed by Microsoft founder whose fortune dropped by a cool $2.8 billion.

Jeff Bezos and Bill Gates share a laugh in 2001. (STAN HONDA/AFP via Getty Images)

The only billionaire whose net worth did not drop (an actually increased by $1.58 billion) was the now-third richest man in the world, Indian billionaire, Gautam Adani.

Bloomberg reported that the world's 500 richest people have lost a combined estimated net worth of $1.2 trillion since January 2022, one of the biggest losses being Meta CEO who has lost an estimated 54% ($68.3 billion) of his earnings.

As of Wednesday afternoon, the DOW was relatively flat (down 0.10% from yesterday) as was the S&P, up 0.083% at the same time.

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