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This Week's Biggest Billionaire Loser: Elon Musk's Fortune Plunges $15 Billion As Other Tech Titans Rake It In

This Week's Biggest Billionaire Loser: Elon Musk's Fortune Plunges $15 Billion As Other Tech Titans Rake It In
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Sunday, 09 April, 2023, 23:54

An 11% Tesla stock slide wiped out billions of dollars from its headline-grabbing CEO Elon Musk’s fortune, while the net worth of several other Silicon Valley veterans swelled – here’s this week’s biggest movers on Forbes’ billionaire list.

Musk lost $14.5 billion in the week ending Friday, sending his net worth down 7% to $187.9 billion, by far the greatest slide on a gross and percentage basis this week among all billionaires.
The tumble came as Tesla investors soured on the company’s profitability prospects as a quarterly report Sunday revealed vehicle inventory spiked early this year, but Musk remains by far the wealthiest person in the U.S. and second-richest man in the world.

LVMH chairman Bernard Arnault, holder of the illustrious world’s wealthiest crown with a $223.1 billion fortune, joined Musk as one of this week’s biggest losers, shedding $2.7 billion as shares of his luxury empire slipped.
Google cofounders Sergey Brin and Larry Page headlined the week’s winners, as both Brin and Page’s respective fortunes grew by roughly $3.5 billion as shares of Google parent Alphabet soared 5%.
Oracle chairman Larry Ellison (up $2.2 billion) and Meta CEO Mark Zuckerberg (up $1.4 billion) were also among the top gainers as shares of their respective companies climbed 3% and 2%.