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Investor Alert

May 20, 2022, 8:16 a.m. EDT

The billionaires are bleeding. Elon Musk, Jeff Bezos and other top earners have lost nearly $200 billion in 2022.

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By Barbara Kollmeyer

Get the hankies ready.

The world’s top billionaires lost more than $40 billion as markets cratered on Wednesday, according to Bloomberg’s Billionaire’s Index , a daily ranking of the world’s wealthiest.

Still at the top of that list is Tesla’s /zigman2/quotes/203558040/composite TSLA -1.79% chief executive officer, Elon Musk, who lost the most of 500 billionaires. Musk shed $12.3 billion of his personal fortune as the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.27% and S&P 500 /zigman2/quotes/210599714/realtime SPX -0.07% saw their worst days in two years.

Musk has been pursuing a $44 billion deal for Twitter /zigman2/quotes/203180645/composite TWTR -2.55% , arguing with the social-network service’s CEO Parag Agrawal about spam bots, in what may be a bid to get a cheaper deal or walk away from it all together. Wednesday’s batch of Musk tweets, in which he vowed to vote Republican in the next election and decried the S&P ESG index as a scam after the index dumped Tesla, drew wide attention.

Tesla’s stock-price target was slashed by Wedbush on Thursday, as the analyst citing a “circus show” over Twitter and headwinds from China’s COVID battle. Since the deal was announced on April 25, Tesla has dropped 28%, though that has come amid hefty marketwide losses this year with the S&P 500 flirting with a formal bear market.

Market Extra: How long does the typical bear market last?

Dry those crocodile tears, though, as Musk is still worth $210 billion, even if he’s lost $60.4 billion so far this year.

Just behind Musk is Amazon.com /zigman2/quotes/210331248/composite AMZN +1.42% founder and former CEO Jeff Bezos, whose Wednesday losses came in at close second, with a $8.48 billion drop leaving his fortune at $131 billion. Amazon shares have fallen 35% so far this year, taking a hit from last month’s first reported quarterly loss in seven years . On a year-to-date basis, Bezos has lost $61.6 billion.

No. 3 on the ultrawealth list, Bernard Arnault, chairman and chief executive of French luxury-goods giant LVMH Moët Hennessy /zigman2/quotes/206499835/delayed IT:LVMH +0.14% , lost $3.15 billion on Wednesday and has seen his fortune dwindle by $52 billion this year, to $126 billion.

Microsoft /zigman2/quotes/207732364/composite MSFT +1.47% co-founder Bill Gates lost $2.19 billion on Wednesday and is $19.4 billion poorer for the year so far. His wealth stands at $119 billion, while Berkshire Hathaway’s /zigman2/quotes/208872451/composite BRK.A -0.27% /zigman2/quotes/200060694/composite BRK.B -0.14% chairman and CEO, Warren Buffett, saw $2.74 billion wiped off his fortune, though he’s gained $2.17 billion in 2022. Buffett is presently worth $111 billion.

/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 685.47
-12.52 -1.79%
Volume: 27.63M
June 29, 2022 4:00p
P/E Ratio
93.01
Dividend Yield
N/A
Market Cap
$723.12 billion
Rev. per Employee
$542,079
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
31,029.31
+82.32 +0.27%
Volume: 273.97M
June 29, 2022 5:16p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,818.83
-2.72 -0.07%
Volume: 2.11B
June 29, 2022 5:16p
loading...
/zigman2/quotes/203180645/composite
US : U.S.: NYSE
$ 37.80
-0.99 -2.55%
Volume: 7.18M
June 29, 2022 4:03p
P/E Ratio
165.64
Dividend Yield
N/A
Market Cap
$29.65 billion
Rev. per Employee
$676,998
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/zigman2/quotes/210331248/composite
US : U.S.: Nasdaq
$ 108.92
+1.52 +1.42%
Volume: 66.38M
June 29, 2022 4:00p
P/E Ratio
52.53
Dividend Yield
N/A
Market Cap
$1092.73 billion
Rev. per Employee
$292,178
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/zigman2/quotes/206499835/delayed
IT : Italy: Milan
592.00
+0.80 +0.14%
Volume: 250.00
June 29, 2022 5:35p
P/E Ratio
24.78
Dividend Yield
1.69%
Market Cap
€296.78 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207732364/composite
US : U.S.: Nasdaq
$ 260.26
+3.78 +1.47%
Volume: 20.07M
June 29, 2022 4:00p
P/E Ratio
27.15
Dividend Yield
0.95%
Market Cap
$1918.22 billion
Rev. per Employee
$928,663
loading...
/zigman2/quotes/208872451/composite
US : U.S.: NYSE
$ 411,050
-1,120 -0.27%
Volume: 1,629
June 29, 2022 4:10p
P/E Ratio
7.37
Dividend Yield
N/A
Market Cap
$605.07 billion
Rev. per Employee
$742,188
loading...
/zigman2/quotes/200060694/composite
US : U.S.: NYSE
$ 273.49
-0.37 -0.14%
Volume: 3.01M
June 29, 2022 4:03p
P/E Ratio
7.36
Dividend Yield
N/A
Market Cap
$605.07 billion
Rev. per Employee
$742,188
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