Tech Billionaires Lost Another $200 Billion In 2023 – Here’s Who Dropped The Most | Forbes

Big tech, big losses. The planet’s technology billionaires had another rough year, declining in both number and collective wealth on Forbes’ 2023 ranking of the world’s wealthiest people. In all, Forbes found 313 billionaires who made their fortune in technology, compared to 332 last year. Their aggregate net worth is $1.9 trillion, down $200 billion from last year’s $2.1 trillion.

The lower numbers reflect a cooling tech market that’s correcting itself after a sky-high peak in 2021, when Forbes found 365 technology billionaires worth $2.5 trillion, the highest ever. The technology sector has proven not to be immune from broad worries about inflation, rising interest rates and fears of recession—not to mention a government crackdown on tech moguls in China.

No one has lost more than Amazon founder Jeff Bezos, who is $57 billion poorer than a year ago, thanks to a 38% plummet in the e-commerce giant’s stock. Amazon, which hired rapidly during the pandemic, is now reversing some of that growth with 27,000 layoffs announced in early 2023. His ex-wife, MacKenzie Scott—who got a quarter of Bezos’ shares in their 2019 divorce and who has been giving money away at a record pace—is down big too, by $19.2 billion.

Read the full story on Forbes: https://www.forbes.com/sites/phoebeliu/2023/04/04/tech-billionaires-lost-another-200-billion-in-2023-heres-who-dropped-the-most/?sh=73cc1fc025d8

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