American technology companies lost $433 billion in a year

As reported by The Washington Post, the owners of American technology companies have lost their entire

states in 2022.So, their total losses due to a decrease in the value of shares amounted to $433 billion. For example, Elon Musk (CEO of Tesla and SpaceX, owner of Twitter) lost $132 billion in a year, Mark Zuckerberg (head of Meta*) lost $81 billion, and Amazon founder Jeff Bezos — $84.1 billion Amid massive losses, companies are cutting staff and taking other measures to cut costs.

We add that some businessmen were able to get rich despite the general stagnation in the market. So, Zhang Yiming, the founder of ByteDance (owns the TikTok social network), increased his fortune by $10 billion.

*Meta Platforms, which includes the social networks Facebook and Instagram, has been recognized as an extremist organization and banned in the Russian Federation.

Photo: Jim Watson/AFP./etty Images