Musk, Zuckerberg, and other tech bosses took a combined $26 billion wealth hit from AI stock slump

"Elon Musk, Mark Zuckerberg, Jeff Bezos, Jensen Huang, and Michael Dell saw a combined $26 billion wiped off their net worths in one day, the Bloomberg Billionaires Index shows. Their fortunes shrank because their respective stakes in Tesla, Meta, Amazon, Nvidia, and Dell slid in value. The stock prices of those first four companies fell by around 2% on Thursday, as investors grew increasingly concerned about the immense costs of building out AI infrastructure and whether they'd see a return on their spending."

"Dell shares tumbled 9% after rival Lenovo warned a memory-chip shortage was driving up costs, raising concerns on Wall Street that other hardware manufacturers would also see their profits contract. The sell-off triggered a $5 billion drop in its founder's personal fortune to $135 billion. Musk saw an unmatched $8 billion wealth decline on Thursday. But the Tesla and SpaceX CEO is still up about $57 billion at $676 billion this year, thanks to the soaring valuations of SpaceX and another of his companies, xAI."

"Zuckerberg took an almost $7 billion blow to his net worth, fueling a year-to-date decline for the Meta CEO of a little over $3 billion, to $230 billion. Bezos' fortune fell by $4 billion, extending the Amazon founder's wealth decline this year to around $27 billion. Huang rounded out the tech quintet with a $2.5 billion reduction in the Nvidia CEO's net worth, according to Bloomberg's rich list. Other tech bosses also saw some of their wealth erased."

Tech CEOs experienced significant single-day wealth declines as stakes in Tesla, Meta, Amazon, Nvidia, and Dell slid, wiping about $26 billion from their combined fortunes. Investors expressed concern over the high costs of building AI infrastructure and uncertain returns, causing roughly 2% drops in those companies' shares. Dell shares fell 9% after Lenovo warned of memory-chip shortages driving up costs, prompting a $5 billion reduction in its founder's net worth. Elon Musk lost $8 billion but remains up $57 billion this year due to SpaceX and xAI valuations. Other executives, including Zuckerberg, Bezos, Huang, Page, and Brin, also saw net worth falls.

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