The world's wealthiest people have converged heavily in H1 2022

In sharp contrast with the last two years, billionaires including Elon Musk and Mark Zuckerberg saw steep losses in their wealth during the first half of 2022.

According to a report by Bloomberg, the world’s 500 wealthiest people have together lost $1.4 trillion. The report said this decline is the sharpest ever six-month drop in the global billionaires' category. The world’s richest person Elon Musk saw his wealth tumble by about  $62 billion, while Amazon chief Jeff Bezos had his net worth plunging by about $63 billion. On the other hand, Meta founder Mark Zuckerberg’s wealth declined by more than half. However, the biggest sufferer was crypto pioneer Changpeng Zhao, whose wealth was slashed by a whopping $80 million during the same time frame.

Tesla CEO Elon Musk currently has a net worth of $208.5 billion, while Jeff Bezos comes second with a $129.6 billion net worth, as per the Bloomberg Billionaires Index. France’s wealthiest man Bernard Arnault, claims third place with a wealth of $128.7, followed by Microsoft’s Bill Gates with a fortune of $114.8. They are the only four remaining in the $100 billion club, which saw ten persons during the start of the year.