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The world's top 10 richest people lost $26.7 billion in one day as U.S. tech stocks tumbled

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Aug 04, 2023 pm 01:29 PM

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According to news from this website on August 3, U.S. technology stocks suffered their biggest decline in months on Wednesday. This situation triggered panic in the global market and resulted in a significant reduction in the wealth of many technology tycoons

According to Forbes’ real-time wealth tracker, the world’s top ten richest people lost a total of US$26.7 billion that day (Note from this site: currently about 191.973 billion yuan), Among them, Tesla CEO Elon Musk’s wealth has shrunk by nearly US$5 billion, making him the one with the heaviest losses. Amazon founder Jeff Bezos, Meta CEO Mark Zuckerberg, Google co-founders Larry Page and Sergey Brin, and Oracle Chairman Larry Ellison were also present that day dropped down the rich list.

The main reason for the plunge in U.S. technology stocks is that the international rating agency Fitch lowered the credit rating of some long-term debt in the United States from AAA to AA . This is a rare credit rating downgrade in recent years. This triggered investor concerns about the macroeconomic conditions of the United States. The Nasdaq Composite Index fell 2.3% that day, the largest one-day decline since February 21; the stock prices of the seven major technology giants including Apple, Microsoft, Google, Amazon, Nvidia, Meta and Tesla also showed different trends. level of decline.

It is worth noting that American superconducting stocks rose more than 60% on the previous trading day, but fell nearly 29% at the close on Wednesday

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