2022 wasn’t a good year for billionaires. Many saw their net worth dropped precariously, and no one has lost more in 2022 than Elon Musk.
The once richest man in the world saw his net worth drop by a whopping $138 billion since the start of the year. That works out to an average lost of $380 million per day.
Billionaire List as of Dec. 28, 2022
Investors have hammered Tesla stock since Elon’s $44 billion take over of Twitter. Tesla stock price is down 70% this year, and Elon’s net worth is made up mostly of Tesla stock.
The amazing thing is even after losing $138 billion, Musk is still the second richest man in the world. The biggest loser percentage wise belongs to Changpeng Zhao, the founder of crypto exchange Binance. He saw his net worth plunged over 85%, from $95.5 billion at the start of the year, down to just $11.6 billion. But don’t feel too bad for Zhao. I’m sure he’ll be able to get by with only $11.6 billion.
*Update – While he’s not on the Bloomberg list, the true biggest loser of 2022 is Sam Bankman-Fried. He saw his entire $30 billion net worth goes to zero when FTX collapsed. Sam is now under house arrest in his parent’s home in Palo Alto, California.
