Musk’s net worth has dropped by $46.4 billion, Bezos’ by $53.2 billion, and Gates’ by $15.1 billion, according to the Bloomberg Billionaires Index.
Musk was valued at $224 billion on Friday, Bezos $139 billion, and Gates $123 billion. Bernard Arnault, the chairman of the French luxury firm LVMH and the world’s third-richest person after Gates, has seen his net worth fall by $44.7 billion since January to $133 billion.
The majority of Musk and Bezos’ fortune is related to Tesla and Amazon shares – the companies they are related to, respectively – while Gates’ shares in Microsoft, which he co-founded, are now very small.
Musk owns a 15.6 percent stake in Tesla, valued at approximately $122 billion after the electric carmaker’s stock plunged nearly 37 percent this year.
In April, he also purchased a 9.2 percent stake in Twitter, prompting investors to question his devotion to Tesla and lowering its value. In addition, Musk sold $8.4 billion in Tesla stock to fund his $44 billion takeover offer.
Gates’ holdings are more diverse, which has helped him weather the stock market downturn. The Bill and Melinda Gates Foundation, which he founded with his now-ex-wife, is primarily invested in Warren Buffett’s Berkshire Hathaway, which has gained more than 5% this year.
However, other investments, such his Cascade Investments, which invests in tech businesses such as Apple, have been less successful. In the face of inflationary pressures and declining consumer confidence, technology companies have experienced a drastic fall in recent months.
Also, Musk has accused Gates of betting “multi-billion dollars” on Tesla by acquiring a short position.
The Tesla CEO has been engaged with both Gates and Bezos in a public spat. Bezos, who established Amazon, still holds over 50 million shares in the company, valued at approximately $115 billion.
The stock has dropped nearly a third this year, yet it is still worth almost $1.2 trillion, significantly more than Tesla’s $786 billion valuation after a near-37 percent drop.