How the World’s Richest Will Lose Trillions in 2022

[January 07, 2023](Comprehensive report by Han Shan, reporter of the Epoch Times special feature department) For most of the richest people in the worldbillionaire2022 may not be a very pleasant year for the world, because in 2022, the assets of the world’s richest 500 people have shrunk by nearly 1.4 trillion US dollars.

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Bloomberg reports that the world’s 500 richestrich manMany of the problems in which assets have shrunk sharply are self-inflicted: For example, Sam Bankman-Fried, the founder of the cryptocurrency FTX, was suspected of fraud, and tens of billions of assets were wiped out; Severe sanctions on its business giants; and Elon Musk (Elon Musk) became the new boss of Twitter, which caused his net worth to decrease by more than 100 billion U.S. dollars from the beginning of January, making him the richest man whose assets have shrunk the most.

Coupled with the Russian-Ukrainian war in 2022, the recordinflationAgainst the background of the continuous tightening of monetary policies by various countries and central banks, this group of billionairesrich manIn the era of easy money (2021) when the CCP virus (COVID-19, new crown virus) epidemic raged, the one-trillion-dollar asset surge, a dramatic reversal.

According to Global Bloomberg on December 30, 2022billionaireAccording to the Bloomberg Billionaires Index, among the billionaires who lost the most, besides Musk’s asset loss of 133 billion US dollars, Bezos (Jeff Bezos) lost 85.4 billion US dollars, and Zhao Changpeng, CEO of cryptocurrency exchange Binance, (Changpeng Zhao) lost US$83.3 billion; Mark Zuckerberg lost US$79.9 billion. These people have lost about US$381.6 billion in cumulative net assets this year.

Here’s a look back at a turbulent year for several billionaires to see how their money evaporated (net worth as of October 30, 2022).

teslaThe stock price fell by nearly 70%

When Musk is still the richest man in the world, on January 27, 2022,tesla(TSLA) After the company issued a warning of tight supply, the stock price fell 11.55% (closed at US$276.37), and Musk lost US$25.8 billion in assets, but this was only the beginning of Musk’s shrinking net worth.

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Since then, Tesla’s stock price has had ups and downs, but the general trend has been downward. From the opening price of $311.12 on January 27 to $109.1 on December 27 (the lowest price of the year), it closed at $123.18 on December 30 at the end of the year. Compared with US$399.93 on the first trading day of this year, it has fallen by 69.2% for the whole year.

When the stock prices of technology companies generally plummeted last year, Tesla’s factories in China were shut down due to the impact of the CCP’s epidemic control policy, which restrained Musk in many ways.

amazonshare price halved

The economic environment is affected by multiple external factors, and the technology field has also been severely impacted.

amazonFounder Bezos called on Twitter in October 2022 to prepare for the fact that the U.S. economy is likely to enter a recession. He ended the year with assets of $107 billion, a loss of $85.4 billion, or 44%.

The stock market of Amazon (Amazon) began to decline in mid-January 2022. Although it rebounded in March, it went down all the way and accelerated. By November, the stock price was only in double digits, falling from a high of $170 to $84 at the end of the year.

FTX Bankruptcy Founder’s Wealth Returned to Zero

FTX, the world’s third largest cryptocurrency exchange, has been raising funds aggressively since 2021. The latest financing was in January 2022, when its valuation reached US$32 billion.

In mid-November, FTX reported bankruptcy, and FTX founder Bankman Fried’s $16 billion in assets returned to zero in less than a week.

Since FTX’s bankruptcy, there have been calls for more transparency in the industry. Binance, the industry’s largest cryptocurrency exchange, has come under more scrutiny.

There was also a wave of runs on Binance. The founder of Binance, Changpeng Zhao, currently has assets of 12.6 billion US dollars, a drop of nearly 87% this year.

Zuckerberg loses big on bet on the Metaverse

In mid-September 2022, due to the downturn in the technology industry and the high cost of turning to Meta Platforms Inc., the cold winter of the US technology industry also dragged down Meta’s stock price, and Zuckerberg suffered heavy losses.

From January to mid-September 2022, Zuckerberg’s net worth has shrunk by $71 billion, or 57%. The current assets are 45.6 billion U.S. dollars, with a loss of 79.9 billion U.S. dollars, a drop of more than 65%, and the ranking of assets has dropped to 25th.

Russo-Ukrainian war cost Russian oligarchs huge

On February 24, 2022, the day Putin ordered the invasion of Ukraine, Russia’s richest oligarchs lost a total of $46.6 billion, and as the war dragged on, the EU, UK and US imposed sanctions on Russia’s oligarchs and their companies , making it difficult for these oligarchs to control their assets in the West, and will continue to lose 47 billion US dollars in 2022.

Among them, Gennady Timchenko, the major shareholder of the energy company Novatek, currently has net assets of 11.8 billion US dollars, with a loss of 10.6 billion US dollars, a loss of more than 47%.

The British government has frozen the assets of Russian oligarch Roman Abramovich in Britain, including a mansion. Abramovich also had to announce the sale of Premier League club Chelsea Football Club, ending his nearly 20-year ownership of the club without any interest. His current net worth is $7.82 billion, and he has lost $10.2 billion this year, a loss of more than 56%.

Editor in charge: Lian Shuhua

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