How much did billionaires, CEOs and founders of technology companies lose on the stock market?

Silicon Valley billionaire CEOs suffered losses in Monday’s stock market plunge.
The Nasdaq 100 fell 3.4%, the Dow Jones lost more than 1,000 points and the S&P 500 lost 3% by the close of trading.
Jeff Bezos and Larry Ellison lost $6.4 billion and $6.2 billion, respectively, in the sell-off.

The net worths of Silicon Valley billionaire founders and CEOs fell as the stock market plunged on Monday.

By the close of trading, the Nasdaq 100 was down 3.4%, the Dow Jones lost more than 1,000 points and the S&P 500 lost 3%. The sell-off sparked fears of a slowdown in the U.S. economy and weighed on markets around the world.

The net worth of tech CEOs and other business tycoons is often tied to the value of their portfolios or the equity they own in the companies they lead, since owning stock and options is common in executive compensation packages. Tech stocks in particular, including Nvidia, Apple and Microsoft, are seeing a big sell-off and were hit hard on Monday.

According to Forbes magazine’s real-time billionaire list, Jeff Bezos, the founder and CEO of Amazon, and Larry Ellison, the founder and CTO of Oracle, lost $6.4 billion and $6.2 billion, respectively. The losses reflected the change in their net worth from market close on Friday to market close on Monday.

Nvidia CEO Jensen Huang lost $5.9 billion of his net worth. Google co-founders Larry Page and Sergey Brin lost $5.9 billion and $5.5 billion, respectively, according to Forbes estimates.

Other elite tech players whose portfolios saw billions in losses on Monday included Tesla CEO Elon Musk (loss of $4.9 billion), Meta CEO Mark Zuckerberg (loss of $4.3 billion), Microsoft founder Bill Gates (loss of $2.6 billion) and former Microsoft CEO Steve Ballmer (loss of $3 billion).

It wasn’t just tech billionaires who were affected. Investment legend Warren Buffett reported a loss of $4.4 billion.

It’s worth noting that, according to the Forbes list, most of these individuals have a net worth well over $100 billion (Huang is lower, with a net worth of $88.2 billion), so they still have a significant portion of their net worth intact.

Bezos, the day’s biggest loser and the second-richest person on Earth, was worth $180.7 billion at the close of trading.