"Larry Ellison, Oracle's cofounder and tech chief, has seen his personal fortune shrink by about $60 billion since the start of January, the Bloomberg Billionaires Index shows. His sharp wealth drop has been fueled by a nearly 30% plunge in Oracle's stock price this year."
"Meta cofounder and CEO Mark Zuckerberg has taken a $46 billion hit to his wealth this year, reducing it to $187 billion at Friday's close. Shares of Facebook, Instagram, and WhatsApp's parent company have tumbled 20% this year."
"Amazon founder Jeff Bezos and Alphabet cofounders Larry Page and Sergey Brin are down about $31 billion, $32 billion, and $29 billion year to date. Shares of the e-commerce behemoth and the search-and-advertising titan are down around 14% and 12% each this year."
"Broad losses among these five men alone have seen a combined $198 billion erased from their net worths this year, reflecting a broader trend of declining stock prices amid geopolitical tensions."
Five major tech executives have collectively lost about $198 billion in net worth this year. Larry Ellison's wealth dropped by $60 billion, primarily due to a 30% decline in Oracle's stock. Mark Zuckerberg's fortune decreased by $46 billion amid a 20% fall in Meta's shares. Jeff Bezos, Larry Page, and Sergey Brin also experienced significant losses, with their net worths down by $31 billion, $32 billion, and $29 billion respectively. Broader market declines are attributed to investor concerns over AI growth and geopolitical issues.
Read at www.businessinsider.com
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