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Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Bloomberg: World's 500 Richest Billionaires Lost $1.4 Trillion in 2022


Fri 30 Dec 2022 | 06:40 PM
Ahmed Moamar

The US Bloomberg Agency said that the 500 richest billionaires in the world lost nearly $ 1.4 trillion of their wealth in 2022.

The agency stated that 2022 is a year to forget for the vast majority of the world's richest people.

The agency added that those losses are not about the money that's been lost, though, that nearly $1.4 trillion has disappeared from the fortunes of the world's 500 richest people, according to the Bloomberg Billionaires Index.

But it turns out that much of the pain was the creation of billionaires, there is the excessive boasting of cryptocurrency icon Sam Bankman Fried, the devastating war waged by Russia in Ukraine that led to severe sanctions against the business giants, and of course the actions of Elon Musk, the new owner of Twitter, who said his wealth is $ 138 billion, compared to the first of last January.

And Bloomberg had mentioned in a previous report that this sharp decline in the fortunes of billionaires occurred after the fortunes swelled during the previous two years.