Comment #2

MzDuffleBaglady — Sat, 01 Mar 2025 00:52:46 GMT

All of it is nerve wrecking.

Comment #1

lakerben — Fri, 28 Feb 2025 18:42:40 GMT

President Elon is filthy rich but has no business running the country. He laid off Faa workers but now wants to bring back retired controllers. What a idiot!

Original Blog Entry: Billionaires earnings!

MzDuffleBaglady — Fri, 28 Feb 2025 18:04:28 GMT

Billionaires earning $10 billion per day in January are suddenly watching their net worth get wiped out Elon Musk has lost $90 billion alone

Billionaires earning $10 billion per day in January are suddenly watching their net worth get wiped out Elon Musk has lost $90 billion alone

Billionaires were getting $10 billion richer every day in January . Just one month later, Elon Musk, Jeff Bezos, Larry Ellison, and Mark Zuckerberg have lost a combined total of $138 billion.

This January felt like the honeymoon period for billionaires, who saw their wealth surge by $10 billion every day. One month later, the daydream is over, and their net worth is tanking.

Throughout the month of January, it s estimated that the world s richest people saw their fortune swell by $314 billion a figure that s about the collective salary of 15 million workers. But for many billionaire businessmen, from Elon Musk and Mark Zuckerberg to Jeff Bezos and Larry Ellison , that high didn t last. Their gains are already slipping away.

Bloomberg s Billionaire Index is heaving with numbers in the negatives all of the world s richest technology, consumer, and industrial leaders are being hit hard.

At the beginning of February, Musk s net worth rested around $433 million; today, that number is $349 billion. Meta CEO Zuckerberg also slipped from $243 billion to $232 billion in the same time period, and Larry Ellison lost about $9 billion.

Tech billionaires in particular who make up many of the world s richest people are watching their wealth take a tumble. It follows DeepSeek's breakout success. The Chinese tech underdog rocked the market, startling competitors like Meta and spurring praise from Nvidia CEO Jensen Huang . DeepSeek s revolutionary, low-cost R1 model has wiped billions off the stock market.

DeepSeek s revolutionary AI model has wiped nearly $100 billion from the world s richest people, including Mark Zuckerberg and Larry Ellison. Pool / Getty Images

DeepSeek s explosive rise, wiping almost $100 billion in wealth

DeepSeek triggered a tsunami throughout the AI industry, and CEOs are caught up in the tidal wave.

The billion-dollar AI company s rise to dominance hit Nvidia the hardest Jensen Huang witnessed $600 billion in his company s market value vanish. Bloomberg noted it as one of the biggest drops of U.S. stocks in the market s history, as DeepSeek products triggered a selloff in Nvidia. Huang himself lost over $20 billion, dropping to a net worth of $103 billion. It triggered a domino effect across the 1%.

Collectively, it s estimated DeepSeek wiped a total of $94 billion from the pockets of the world s richest people: tech leaders. Chairman Ellison recorded a personal loss of $27.6 billion dropping from third to the fifth richest person in the world after Oracle s stock plummeted 14%. Michael Dell also lost a cool $12.4 billion from the Nvidia selloff, alongside Musk bleeding $5.3 billion, Google founder Larry Page s net worth dropping $6.3 billion, and Google investor Andreas von Bechtolsheim suffering a $5.4 billion crash.

While these numbers are eye-watering to the average person, for the wealthiest few it only represented a small dent in their wealth. Even though Elon Musk the world s richest man has lost nearly $90 billion this year, he still takes the throne of global net worth. And the leaders most implicated in this crash still keep their chin up; Huang might have a bone to pick for his personal and company losses, but in Nvidia s most recent earnings call, he praised DeepSeek.

It s an excellent innovation, but even more importantly, it has open-sourced a world-class reasoning AI model, Huang said, adding DeepSeek has ignited global enthusiasm.

This story was originally featured on Fortune.com... [ More ]