NEW YORK – The world’s wealthiest tech billionaires saw a collective $67.3 billion wiped from their fortunes in a single day, led by Tesla CEO Elon Musk, whose net worth fell by $29 billion to $301 billion, according to the Bloomberg Billionaires Index.
Amazon founder Jeff Bezos lost $4.21 billion, while Meta CEO Mark Zuckerberg saw his fortune shrink by $9.46 billion. Oracle founder Larry Ellison’s wealth declined by $7.26 billion, and Alphabet co-founders Larry Page and Sergey Brin lost $6.16 billion and $5.73 billion, respectively. Microsoft co-founder Bill Gates and former CEO Steve Ballmer suffered losses of $1.10 billion and $4.17 billion.
The sell-off came as Tesla shares plunged 15.44%, with other tech giants, including Apple and NVIDIA, falling 5.91% and 6.74%, respectively. The Invesco QQQ Trust, which tracks the tech-heavy Nasdaq-100, entered correction territory, dropping more than 10% from recent highs.
Amid the turmoil, Berkshire Hathaway CEO Warren Buffett stood out, gaining $607 million. Berkshire, which recently reported a record $334 billion cash stockpile, has been a net seller of stocks for nine consecutive quarters, citing high valuations. Buffett has also trimmed Berkshire’s Apple stake and halted stock buybacks.
Market concerns were further fueled by fears of a potential recession and proposed tariff policies by former U.S. President Donald Trump. Goldman Sachs warned that a 5% tariff increase could reduce corporate earnings by 1-2% and trigger a 5% drop in the S&P 500.
Despite recent declines, several tech billionaires still hold 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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