Jeff Bezos’s net worth went down by $57 billion last year
Asher Notheis
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Many billionaires experienced a less-than-stellar year in 2022, with former president and CEO of Amazon Jeff Bezos being the one whose net worth went down the most.
The famous billionaire is still the third richest person in 2023, but his net worth went down by $57 billion in 2022, thanks to Amazon shares crashing by 38%. The crash knocked Bezos down a peg from his second-place position among the richest people last year, putting his net worth in 2023 at $114 billion, according to Forbes.
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The 25 richest people in the world lost a collective total of $200 billion last year, with two-thirds of these billionaires poorer compared to last year. In 2023, the richest people in the world are worth a collective $2.1 trillion, down from $2.3 trillion in 2022.
The news of Bezos’s downsize in net worth comes after Amazon announced it is laying off 9,000 of its employees last month. In January, the company announced it would lay off 18,000 employees.
The billionaire who experienced the second biggest loss in net worth was Tesla and Twitter CEO Elon Musk, whose net worth in 2023 is $180 billion, down by $39 billion compared to last year. The decrease in Musk’s net worth comes after he purchased the social media platform last year for $44 billion.
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Of the 25 richest people in the world last year, two of them are not among the top 25 this year. Zhang Yiming, the founder of TikTok’s parent company ByteDance, went from No. 25 to No. 26, while Changpeng Zhao, the founder of Binance, went from No. 19 to No. 167.
The richest person in the world in 2023 is Bernard Arnault, the head of the luxury goods giant LVMH, who overtook Musk as the richest person last year. His net worth this year is at $211 billion, thanks to earning an additional $53 billion in 2022.