The wealthiest people in the world have amassed fortunes beyond most people's wildest dreams -- but when you have so much money to your name, that also means you have the most to lose.
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The 10 richest people have lost a whopping $280 billion over the past 12 months. These losses are largely tied to the tanking stock performance in the tech sector, but the biggest monetary losers come from other industries as well, including the automotive, finance and commodities sectors.
See who made this list of wealthy people who have lost the most money from March 2022 to March 2023, ranked from smallest to largest losses, as identified by TradingPedia.
10. Steve Ballmer
- March 2022 net worth: $91.4 billion
- March 2023 net worth: $80.7 billion
- Change in net worth: -$10.7 billion
- Reason for drop in wealth: Drop in Microsoft stock prices and charitable donations
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9. Robin Zeng
- March 2022 net worth: $44.8billion
- March 2023 net worth: $33.4 billion
- Change in net worth: -$11.4 billion
- Reason for drop in wealth: Expansion costs and raw material costs related to his business, CATL, the world's biggest manufacturer of electric vehicle batteries
8. Warren Buffett
- March 2022 net worth: $118 billion
- March 2023 net worth: $106 billion
- Change in net worth: -$12 billion
- Reason for drop in wealth: Drop in the value of Berkshire Hathaway's investment portfolio
7. MacKenzie Scott
- March 2022 net worth: $43.6 billion
- March 2023 net worth: $24.4 billion
- Change in net worth: -$19.2 billion
- Reason for drop in wealth: Drop in Amazon stock prices and charitable donations
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6. Bill Gates
- March 2022 net worth: $129 billion
- March 2023 net worth: $25 billion
- Change in net worth: -$104 billion
- Reason for drop in wealth: Charitable donations
5. Sergey Brin
- March 2022 net worth: $107 billion
- March 2023 net worth: $76 billion
- Change in net worth: -$31 billion
- Reason for drop in wealth: Drop in Alphabet stock prices due to accuracy concerns about Bard, its experimental AI service
4. Larry Page
- March 2022 net worth: $111 billion
- March 2023 net worth: $79.2 billion
- Change in net worth: -$31.8 billion
- Reason for drop in wealth: Drop in Alphabet stock prices due to accuracy concerns about Bard, its experimental AI service
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3. Elon Musk
- March 2022 net worth: $219 billion
- March 2023 net worth: $180 billion
- Change in net worth: -$39 billion
- Reason for drop in wealth: $44 billion Twitter purchase and subsequent drop in Tesla stock prices
2. Gautam Adani
- March 2022 net worth: $90billion
- March 2023 net worth: $47.2 billion
- Change in net worth: -$42.8 billion
- Reason for drop in wealth: Accusations of accounting fraud, stock market manipulation and bypassing Indian securities laws
1. Jeff Bezos
- March 2022 net worth: $171 billion
- March 2023 net worth: $114 billion
- Change in net worth: -$57 billion
- Reason for drop in wealth: Drop in Amazon stock prices
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Net worth data is sourced from Forbes via TradingPedia and is accurate as of May 18, 2023.
This article originally appeared on GOBankingRates.com: 10 Billionaires Who Lost Big Money This Year
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
