The big billionaire loss of fortune | In pics

The post-pandemic woes, many self-inflicted as well, came to hit the billionaire wealth as 2022 concluded. Billionaires worldwide, from the US to China, recorded stunning decline in wealth. While Tesla CEO Elon Musk took away the world record for largest-ever loss of personal fortune, China Evergrande Group's chairperson Hui Ka Yan recorded 93 per cent decline in his overall wealth, according to Bloomberg Billionaire Index. 

Of almost $1.4 trillion that got wiped from the fortunes of the richest 500 people of the world in 2022, about $200 billion in lost fortunes came from Elon Musk. 

ALSO READ | Elon Musk becomes first person in history to lose $200 billion in net worth

Elon Musk's net worth dropped from $320 billion in November 2021 to $137 billion as of January 2023. Musk now holds the dubious world record for the largest-ever loss of personal fortune. 

Amazon’s Jeff Bezos lost $85 billion in 2022, as shares of his e-commerce giant fell by 50 per cent, Bloomberg Billionaire Index showed. The loss is attributed to the slowing online sales growth as the e-commerce to streaming conglomerate braces for a possible recession.

ALSO READ | Amazon begins laying off 18,000 people from its cart of employees

The expected recession is likely to affect the spending power of its customers.

Meta CEO Mark Zuckerberg had hinted at the layoffs 

The Google (now Alphabet) co-founders together lost $91 billion in fortune by the end of 2022. According to Bloomberg Billionaire Index, while Sergey Brin lost $45 billion in fortune, Larry Page lost $46 billion.  

Chinese billionaire Hui Ka Yan's wealth declined to $3 billion from $42 billion in 2017-2018, Bloomberg Billionaire Index showed. The chairman of the China Evergrande Group, once the second richest person in Asia, was known to be the bridge between the Chinese elite's world of business and the country’s political power centres. With the Chinese Communist Party stepping away, the China Evergrande Group, led by Hui Ka Yan, has over 800 projects in more than 280 cities in China and beyond. But the company is struggling to repay $300 billion in liabilities.