America’s richest lost $660 billion collectively in 2022 — Elon Musk lost the most

Posted on AllSides December 27th, 2022
From The Center
Win Mcnamee | Getty Images News | Getty Images

Billionaires have had a bad year.

Globally, the world’s billionaires lost nearly $2 trillion, combined, in 2022, according to Forbes. The United States’ billionaires lost $660 billion collectively, the highest of any country by Forbes’s count, as tech stock prices took a nosedive fueled by rising interest rates, soaring inflation and a worsening economy.

Of America’s billionaires, Tesla, SpaceX, and newly minted Twitter CEO Elon Musk saw his fortune diminish the most. Musk’s net worth dipped by about $115 billion this year, according to Forbes.

In October, when Musk bought Twitter for $44 billion, he...

Read full story
Some content from this outlet may be limited or behind a paywall.


AllSides Media Bias Rating: Center
AllSides Media Bias Rating: Center
See full bias rating for CNBC
Learn about media bias

More News about Banking and Finance from the Left, Center and Right

From the Left

From the Center

From the Right