The $100 billion club, once comprising 15 members, now stands at just 12 after significant losses in net worth for Jensen Huang, Michael Dell, and Gautam Adani. This reduction was driven by a substantial sell-off in the markets, with the combined wealth of the world's 20 richest individuals decreasing by around $60 billion last week.
Jensen Huang, CEO of Nvidia, saw his net worth plummet from $105 billion to $90.5 billion after a 14% stock decline amid regulatory concerns. This downturn showcased the volatility in tech stocks and positioned him as one of the largest wealth losers, despite previously gaining $46 billion earlier this year.
Michael Dell experienced a significant drop in his net worth, which fell around $10 billion due to a wider tech market downturn, leaving him with $96.3 billion. This illustrates the impact of market fluctuations on individual fortunes, especially within the technology sector.
Gautam Adani's wealth fell to $99.6 billion following dips in his company shares, intensified by the scrutiny from US short-sellers. This highlights the interplay of market reputation and external pressures on billionaires' net worths, particularly in emerging markets.
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