The world's 10 richest people — all men — lost just over $45 billion in Friday's market sell-off. Amazon.com (AMZN) founder Jeff Bezos was the biggest loser by far.
Tesla (TSLA) CEO Elon Musk, Oracle (ORCL) Chairman Larry Ellison and Meta Platforms (META) CEO Mark Zuckerberg also had a rough Friday. So did Microsoft (MSFT) co-founder Bill Gates, former Microsoft CEO Steve Ballmer, Berkshire Hathaway CEO Warren Buffett as well as Larry Page and Sergey Brin, co-founders of Google-parent Alphabet (GOOGL).
All of these people are founders, CEOs or former leaders of some of the world's most valuable companies, nearly all S&P 500 giants.
↑X NOW PLAYINGPalantir Reports Earnings As Tech Stocks Remain Under Pressure
World's Richest People
| Name | Total net worth | Aug. 2 change | 2024 change | Country |
|---|---|---|---|---|
| Elon Musk | $235 billion | -$6.57 bil | $5.54 bil | U.S. |
| Jeff Bezos | $191 billion | -$15.20 bil | $14.6 bil | U.S. |
| Bernard Arnault | $182 billion | -$1.21 bil | -$25.0 bil | France |
| Mark Zuckerberg | $174 billion | -$3.39 bil | $45.6 bil | U.S. |
| Bill Gates | $155 billion | -$1.95 bil | $14.0 bil | U.S. |
| Larry Page | $150 billion | -$3.45 bil | $23.2 bil | U.S. |
| Larry Ellison | $148 billion | -$4.37 bil | $24.9 bil | U.S. |
| Steve Ballmer | $142 billion | -$2.83 bil | $11.0 bil | U.S. |
| Sergey Brin | $141 billion | -$3.24 bil | $20.9 bil | U.S. |
| Warren Buffett | $135 billion | -$1.31 bil | $15.1 bil | U.S. |
Source: Bloomberg Billionaires Index
Big Losers Friday
Jeff Bezos lost $14.6 billion on Friday as Amazon stock plunged 8.8% followed mixed Q2 results and weak Q3 guidance. Elon Musk lost $6.57 billion as Tesla stock retreated 4.2%. He's still the world's richest man at $235 billion, followed by Bezos at $191 billion.
Larry Ellison lost $4.37 billion on Friday as Oracle stock sank 3.1%, leaving him with $150 billion. Mark Zuckerberg shed $3.39 billion on Friday as Meta stock gave up 1.9%. He still has $174 billion.
Expect sharp losses for most if not all of these billionaires on Monday, with futures tumbling amid a global rout.
Zuckerberg Is Big Winner In 2024
For the year, Zuckerberg is up $45.6 billion, the biggest increase of the 10 wealthiest people.
Jensen Huang, CEO of Nvidia (NVDA), has seen his wealth surge $50.3 billion in 2024. His net worth is now $94.3 billion, up to 15th on the Bloomberg Billionaires Index.
All of the 10 richest people have seen their net worth increase in 2024, except for Bernard Arnault, founder and CEO of luxury giant LVMH.The lone non-American on the list and the only one not associated with an S&P 500 company, Arnault has lost $25 billion this year, including $1.21 billion on Friday. He's still the world's third-richest person at $182 billion.
Please follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for stock market updates and more.
YOU MIGHT ALSO LIKE:
Want To Get Quick Profits And Avoid Big Losses? Try SwingTrader
Best Growth Stocks To Buy And Watch
IBD Digital: Unlock IBD's Premium Stock Lists, Tools And Analysis Today
Copper Prices Are A Can't-Miss Bet; Why Power-Hungry AI, EVs Will Fuel FCX, TECK
Apple Leads Five Stocks Near Buy Points
