Billionaires See Fortunes Swiped by $200 Billion

Last week was busy for billionaires around the world after their wealth decreased by about $200 billion on Monday alone, however, they recovered a large portion of that lost wealth, and investors reevaluated their opportunities.

In Japan, the market value of stocks fell by about $1.1 trillion in just 3 sessions, bringing the market capitalization to $6.1 trillion, according to Bloomberg calculations.

While technology stocks were hit hard as investors reevaluated their portfolios, especially with AI-driven share price inflation, which analysts saw as an opportunity to buy back at more reasonable prices.

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Despite the huge losses, Facebook co-founder Mark Zuckerberg was the biggest gainer last week, adding $10 billion to his wealth, and moving up in the rankings to third place, surpassing the richest man in Europe, Bernard Arnault, by a margin of no. Little. Zuckerberg's wealth rose to $184 billion, while the Frenchman Arnault's fortune rose by $2 billion.

While the wealth of the richest man in the world, Tesla CEO Elon Musk, decreased to $229 billion from $235 billion a week ago. Amazon co-founder Jeff Bezos lost $3 billion of his wealth, bringing it to $190 billion.

Bill Gates also lost $2 billion last week, while his Microsoft co-founder, Steve Ballmer, lost $1 billion.

As for the two partners in Google, Larry Page and Sergey Brin, their wealth declined by $3 billion each.

Warren Buffett, co-founder of Berkshire Hathaway, was an indicator of the market's strength, as his wealth rose by $1 billion in a hectic and turbulent week in the stock market. Buffett gave the spark of decline to technology stocks, after his company disclosed that it had disposed of about half of its stake in Apple shares during the second quarter.

Despite the market turmoil, the decline in stocks, fears of a recession in the American economy, and the expected major change in the policies of central banks in the Far East and West of the Earth - Japan and the United States - most of the gainers among billionaires during the current year reached record levels in their wealth during the month of last July, led by... Zuckerberg, Jensen Huang from NVIDIA, and Larry Allison from Dell.