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Top 10 Billionaires Who lost The Most Money in 2022
This list contains the top 10 billionaires who lost the most money in 2022 as we carefully take a look at the top loser, starting with
We all know a few things about the event in the year 2022, ranging from the top earners to top losses as well as the economic recession that plunged most of the world’s billionaire’s wealth from what it used to be to whatever rank they held on the billions richest list now, this post is solely on the top 10 billionaires who lost the most money in 2022 as the year is wrapping off to an end.
Meanwhile, it will be great to know that most of the billionaires who lost the most money in 2022, didn’t start the year as a loser. Additionally, most of them at a point in 2022, were leading the Forbes world billionaires list before their wealth plunged into the deep. It is also good to know who the top losers are so as to be able to learn a few things from what will be perceived as wrong decisions that made them lose such great wealth.
Furthermore, the industries that these billionaires operate in differ ranging from the automobile industry to the tech industry, retail, mining, fashion, construction, accommodation, and food service.
Below is the list of the top 10 billionaires who lost the most money in 2022 as we carefully take a look at the top losers, starting with the top loser who lost the most money to the least.
1. Elon Musk – $115 billion
Elon Musk was the richest man in the world with a net worth of $200 billion dollars before he lost the position to Bernard Arnault who has a net worth of $181 billion dollars at the time time of this writing.
Musk is the CEO of Tesla, and SpaceX, the founder of The Boring Company; co-founder of Neuralink and OpenAI; and president of the philanthropic Musk Foundation, became owner and CEO of Twitter on October 27, 2022, after acquiring the social media company for $44 billion. The Automotive giant’s CEO lost some of his wealth when Tesla stock was pushed down to about 60%.
Meanwhile, his wealth saw a major plunge after his twitter acquisition, which affected his total net worth making him lose about $115 billion of his net worth making him the biggest loser in 2022, he ranks as the second richest man as of December, and he is among the billionaires who lost the most money in 2022.
2. Jeff Bezos – $80 billion
The founder of Amazon.com, Inc. which is an American multinational technology company focusing on e-commerce, cloud computing, online advertising, digital streaming, and artificial intelligence, Jeff Bezos comes second among the top losers in 2022 to lose such an enormous amount of their total wealth.
Bezos was the richest man in the world before Elon Musk of Tesla overtake him to take over the spot in 2020 after the Covid-19 pandemic, Jeff now takes the fifth spot in the world billion ranking at the time of this writing.
Meanwhile, the cause of the decline in the wealth of the former richest man on the planet was the drop in the share price of Amazon Inc which actually began in 2021 but has since continued through to the year 2022, which made him fall so far from the position as the second richest man in the world after he lost the top spot, he is among the billionaires who lost the most money in 2022 following his rival Elon Musk who lead the year as the biggest loser.
3. Mark Zuckerberg – $78 billion
The tech billionaire and internet entrepreneur Mark Zuckerberg who was one of the top five richest billionaires in the world at the beginning of 2022, dropped so far from being in the top 10 in the world after he lost more than 50% of his wealth after the change of his company name to Meta and it platform, which is the parent company of Facebook the giant social media company.
Mark fell so far from his previous position on the world billion ranking index according to Forbes, when he was worth over a hundred previous, he is now the 28th richest man after losing about $78 billion of his wealth due to the drop in shares of his company, he is among the top CEO’s that laid off thousands of employees due to the financial challenge that the company went through about 2 month ago.
4. Changpeng Zhao – $72.6 Billion
Changpeng Zhao is one of the biggest losers in 2022 as Bloomberg estimated his net worth in January to be approximately $96 billion dollars at the start of 2022 before he lost most of it to the volatile nature of the crypto market that made so many billionaires and people who are crypto enthusiasts lost their money this year.
Meanwhile, Changpeng Zhao who was formerly ranked 11th richest person in the world according to the Forbes billionaires index is now ranked #591 at the time of this writing and it seems he will end the year as such.
5. Larry Page – $40 billion
Larry Page is an American business magnate, computer scientist, and internet entrepreneur. He is best known for co-founding Google with Sergey Brin. Well, you may think that the Google founders will not lose money, or maybe not as much as they lost because the coverage of their service extends to billions of people.
The year 2022 is a year that most billionaires have plunged in their wealth and the Google co-founder is no exception as he lost about $40 billion dollars which made him drop from the position he was occupying previously, he is one of the billionaires who lost the most money in 2022.
6. Sergey Brin – $40 billion
Another billionaire on this list of billionaires who lost the most money in 2022 is Sergey Brin an American business magnate, computer scientist, and internet entrepreneur who is best known for co-founding Google with Larry Page and Google’s parent company, Alphabet Inc. Meanwhile, being a CEO of a multi-billion dollar company doesn’t just cut it, it’s not a guarantee that there won’t be a time you’ll lose money.
Sergey Brin lost about $40 billion dollars same amount as his business partner Larry Paige whom they both rank after each other on the Forbes billionaire world ranking. Meanwhile, Sergey lost this portion of his net worth in the year 2022 because Google’s parent company Alphabet missed its September quarter profit estimates due to failure to meet its digital advertising business goals.
7. Bill Gates – $27.3 billion
The former CEO of Microsoft Corporation which he co-founded with his childhood friend Paul Allen is among the top losers in the year 2022 to have lost a proportion of their wealth, it is also good to note that Bill Gates was the former world’s richest person, the position which he holds for many consecutive years.
On the other hand, Bill Gates’s wealth didn’t reduce based on the plunge in wealth or company shares, unlike many other billionaires on this list who lost their wealth to stock decline, he lost his to philanthropic act, that charity giving.
8. Phil Knight – $18.3 billion
Phil is another billionaire who is among the top billionaires who lost their wealth to the recession in 2022 and the decline in the stock market. The Nike founder also had his share in the wealth plunge which made him the ninth billionaire on this list of top billionaires who lost the most money in 2022 with a loss of about $18.3 billion dollars.
Phil Knight’s decline in wealth in 2022 can be related to the high decline of the global Nikes product, which range from footwear to clothing. He is also among the top American billionaires who lost a proportion of their wealth to the global decline in sales of their products.
9. Jack Ma – $13.1 billion
Jack Ma the former richest man in China as well as Asia, was also got affected this year as his wealth plunged further which didn’t stop at losing his spot as the richest man in China and Asia but went us to affect the majority of his net worth.
Ma lost a proportion of his money after China’s crackdown on tech companies which affected him a great deal. Jack Ma who is the founder of the Alibaba Group is having a net worth of $22.5 billion dollars according to the Forbes magazine ranking index. He now ranks as the 63rd richest man in the world according to Forbes’s ranking at the time of this writing.
10. Yang Huiyan – $11.6 billion
Lastly, on this list of billionaires who lost the most money in 2022 is Yang Huiyan who is worth $9.7 billion dollars according to Forbes. She is one of the richest Asian women who have such an enormous net worth and also one of the billionaires who lost a sizable proportion of their wealth to the plunge in the crypto market.
Meanwhile, Yang Huiyan is not only a crypto billionaire, she is equally involved in other businesses like property development, where she is the majority shareholder of Country Garden Holdings. Yang lost approximately $11.6 billion dollars of her personal wealth in 2022.
Key Takeaways
- Elon Musk is the biggest loser in 2022, losing $115 billion dollars
- Jeff Bezos is the second loser in 2022, falling further from his previous billionaire world position
- Bill Gates lost his wealth to charity
- Facebook Mark Zuckerberg lost more than 50% of his wealth in 2022
Top 10 Billionaires Who lost The Most Money in 2022
| Rank | Countries | Amount Lost | Current Net Worth |
| 1 | Elon Musk | $115 billion | $139.9 billion |
| 2 | Jeff Bezos | $80 billion | $105.1 billion |
| 3 | Mark Zuckerberg | $78 billion | $42.1 billion |
| 4 | Changpeng Zhao | $72.6 Billion | $4.5 billion |
| 5 | Larry Page | $40 billion | 75.6 billion |
| 6 | Sergey Brin | $40 billion | 72.6 billion |
| 7 | Bill Gates | $27.3 billion | $102.7 billion |
| 8 | Phil Knight | $18.3 billion | $44.4 billion |
| 9 | Jack Ma | $13.1 billion | $22.9 billion |
| 10 | Yang Huiyan | $11.6 billion | $9.7 billion |
The year 2022 is wrapping off to a close, as there might be losers or top losers in the year there are also many billionaires who’ve had the best year so far as their wealth soared higher increasing their overall net worth. Though many of the losers on these billionaires who lost the most money in 2022 list started the year ranking above many who made the most win this year, the same might be the case in the coming year 2023, and we hope many business decisions that most losers made this year they will learn from.
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Sources
https://biz.crast.net/these-10-billionaires-have-lost-the-most-money-in-2022-at-the-top-of-this-list-is-mark-zuckerberg-who-has-lost-more-money-than-the-combined-gdp-of-venezuela-and-maldives-luxury-launch/