This autumn started with substantial losses for the world’s richest people. In just a couple of days, they saw their net worth shrink by almost $45 billion due to a record collapse in the US stock markets. Thus, the NASDAQ 100 Technology Sector Index plunged by 4.5% at once. As a result of such a steep decline, the ten wealthiest American businessmen in the information technology sector lost an eye-watering $44 billion. Serious concerns over the world economic outlook caused a large-scale sell-off and consequently a major crash in the biggest tech stocks. It is a common fact that the cheaper the company’s stock, the poorer the owner. Thus, Amazon CEO and founder Jeff Bezos saw the biggest personal drop of $9 billion. The shares of his company had plummeted the most since June. Tesla chief Elon Musk’s wealth was down by $8.5 billion, while individual fortunes of Microsoft’s Bill Gates and Facebook’s Mark Zuckerberg decreased by $2.9 billion and $4.2 billion respectively.
