October 20, 2020

Bezos, Musk, Zuckerberg and Gates lose billions after tech stocks fall


The nation’s richest Big Tech executives lost a collective $25 billion to their net worth after Thursday’s market sell-off, according to data compiled by CNBC’s Robert Frank.

The S&P 500 tech sector closed down 5.8% Thursday, dragging markets in the red. The dramatic drops shaved billions off the net worth of some of the world’s richest people, who saw their wealth balloon in recent weeks as tech stocks ripped higher.

Here’s the scorecard:

  • Amazon stock closed down 4.63%, taking $9 billion off CEO Jeff Bezos’s net worth.
  • Tesla chief Elon Musk also lost $9 billion, after its stock slipped 9.02%.
  • Facebook‘s CEO Mark Zuckerberg saw its stock drop 3.76%, taking $4 billion off of his net worth.
  • Former Microsoft CEO Bill Gates’ net worth fell $3 billion after a 6.19% stock slip. 

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