The world’s top tech billionaires saw their fortunes plummet on Monday as markets tumbled, with the Magnificent Seven tech giants shedding approximately $780 billion in market capitalization during a single trading session.
What Happened: According to the Bloomberg Billionaires Index, Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk led the losses, with his net worth dropping from $29 billion to $301 billion. Amazon.com Inc. (NASDAQ:AMZN) founder Jeff Bezos lost $4.21 billion, while Meta Platforms Inc. (NASDAQ:META) CEO Mark Zuckerberg saw $9.46 billion erased from his fortune.
Other tech billionaires weren’t spared, as Oracle Corp. (NYSE:ORCL) founder Larry Ellison lost $7.26 billion, Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) co-founders Larry Page and Sergey Brin saw declines of $6.16 billion and $5.73 billion respectively, Microsoft Corp. (NASDAQ:MSFT) co-founder Bill Gates dropped $1.10 billion, and former Microsoft CEO Steve Ballmer lost $4.17 billion. Collectively, the top 10 billionaires on the list lost $67.3 billion in a single day.
The tech sell-off saw Tesla shares plunge 15.44%, while other tech giants, including Apple Inc. (NASDAQ:AAPL) and NVIDIA Corp. (NASDAQ:NVDA), fell 5.91% and 6.74%, respectively. The tech-heavy Invesco QQQ Trust (NASDAQ:QQQ) officially entered correction territory, dropping more than 10% from recent highs.
Warren Buffett stood alone among the top 10 billionaires, gaining $607 million amid the turmoil. The Berkshire Hathaway (NYSE:BRK) (NYSE:BRK) CEO, who recently reported a record $334 billion cash stockpile, is reportedly positioned to capitalize on market weakness after warning about high valuations.
See Also: Cathie Wood Stands By ';Deflationary Boom’ Call As Gene Munster Compares Market Turmoil To Dot-Com Bubble
Why It Matters: Berkshire has been a net seller of stocks for nine straight quarters, citing high valuations. Buffett has also trimmed Berkshire's Apple stake and halted stock buybacks, further boosting cash reserves.
Investors worry about President Donald Trump‘s proposed tariff plans and recession fears. Goldman Sachs has warned that tariffs could reduce corporate earnings by 1-2% for every 5% increase, potentially .
Despite recent losses, several tech billionaires maintain significant year-to-date gains, with Zuckerberg up $4.12 billion in 2025. Meanwhile, Tesla’s valuation remains elevated at more than 100 times earnings, even after losing half its value since December highs.
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- Jamie Dimon Cashed Out $234 Million In JPMorgan Stock, Warren Buffett Stockpiled $334 Billion In Cash -- Weeks Later, Markets Crashed. Coincidence?
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
