These are not the best of times for Elon Musk, Jeff Bezos and Bill Gates as the trio have have suffered a collective loss of $115 billion in their net worth over the past five months as stock markets tumbled.
According to the Bloomberg Billionaires Index, Musk’s worth has dropped by $46.4 billion, Bezos is down $53.2 billion, while Gates has had $15.1 billion wiped off his net worth.
On Friday, 27th May, Musk was worth $224 billion, Bezos $139 billion, and Gates $123 billion.
Bernard Arnault, the chairman of French luxury conglomerate LVMH and the world’s third-richest person ahead of Gates, has suffered a $44.7 billion decline to his worth since January to $133 billion.
For Musk and Bezo, most of their wealth is tied up in Tesla and Amazon shares respectively – the companies where they are current and former CEOs – but Gates’ holdings in Microsoft, which he co-founded, is now relatively modest.
Musk has a 15.6% stake in Tesla worth about $122 billion after shares in the electric car maker fell almost 37% this year.
He also acquired a 9.2% stake in Twitter in April, which made investors question his commitment to Tesla and helped cut its value.
It should be recalled tat Musk sold Tesla shares worth $8.4 billion to fund his subsequent $44 billion takeover bid.