The net worth of top US billionaires has plummeted by around $10 billion daily since February. According to Fortune, this drop is linked to the salary of 15 million workers ($314 billion). The decline was first seen in January 2025, when the pockets of tech giants like Meta’s Mark Zuckerberg, Amazon’s Jeff Bezos, and Elon Musk were growing.
However, their fortunes began to dwindle in February. Elon Musk’s net worth dropped from $433 million to $349 billion, while Zuckerberg’s value decreased from $232 billion to $243 billion. Larry Ellison lost nearly $9 billion due to Oracle’s stock decline.
Musk’s company, Tesla, is also facing a significant hit, with revenue still below market forecasts despite a 2.1% increase. Experts point to Musk’s involvement in politics and the launch of the Chinese AI model DeepSeek as contributing factors. The report states that DeepSeek’s dominance led to $94 billion being lost from the richest people around the world.
The impact on billionaires is significant, with notable losses including Larry Page’s $6.3 billion decline and Michael Dell’s $12.4 billion loss. Despite this, Tesla remains the eighth most valuable company in the world, with a market cap of nearly $1.25 trillion.
Source: https://finance.yahoo.com/news/emerging-economic-trends-plummet-billionaire-204533384.html