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Bezos Loses $20 Billion in Brutal Week for Tech Billionaires

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Ives Isn't Throwing in the Towel on Tech Stocks

Jeff Bezos shed $20 billion from his fortune. Changpeng Zhao of Binance dropped $17.7 billion, while Mark Zuckerberg’s wealth fell $10.4 billion.

It was a painful week for billionaires as everything from e-commerce to cryptocurrencies to online gaming tumbled. Markets fell by the most since the outbreak of the pandemic as the specter of interest rate hikes by the Federal Reserve settled over the economy.