The richest people in the world lost $1.4 trillion

High inflation and global economic troubles put a lot of pressure on technology companies. Since the beginning of the year, technology shares have been on a downward trend for weeks and dragged their founders with them. The world’s richest people are experiencing record declines.

The rich are not richer

Especially during the pandemic period, while the crypto money market exploded thanks to the continuous release of money to the market, technology shares also skyrocketed. While existing companies broke records, new startups such as Zoom also showed incredible rises.

However, with the easing of the pandemic, the bill appeared. Major restraint measures left a huge inflation and economic crisis behind. While the spending power of its consumption decreased, this was directly reflected in the shares.

According to research, the world’s 500 richest people lost $1.4 trillion in the first half of the year. During this period, especially with the depreciation of cryptocurrencies, Binance boss Changpeng Zhao’s wealth melted by approximately $ 80 billion.

Mark Zuckerberg ($60 billion) lost about $60 billion, while Jeff Bezos ($133 billion) and Elon Musk ($208 billion) suffered similar losses. Bernard Arnault ($128 billion) lost around $50 billion. While there were 10 businessmen over 100 billion dollars last year, the number has decreased to 4 today.

The economic course will affect the fate of many sectors in the coming period. If a solution to inflation cannot be found in the short term, it is feared that these decreases will deepen.