The US tech rich have lost tens of billions in collective wealth as tech stocks plunged due to fears of inflation and economic tightening.
According to Arab Net, Tesla CEO Elon Musk's net worth fell by $15.2 billion on Friday - the largest loss among technology billionaires - after Tesla shares extended their losses.
Musk's fortune fell to $268.9 billion, but it is still up 72% for this year, according to the Bloomberg Billionaires Index, seen by Al Arabiya Net.
Amazon co-founder Jeff Bezos' net worth decreased by $2.7 billion, with Amazon shares falling 1.4% in New York, while the fortune of Oracle co-founder Larry Ellison fell by $2.6 billion.
Facebook CEO Mark Zuckerberg's fortune fell by $1.3 billion to $114.7 billion.
Markets are still reacting to rising inflation and the possibility that the Federal Reserve will move forward with a faster curtailment of asset purchases.
According to the index, the 10 largest tech billionaires in the United States combined have lost $27.4 billion in wealth.
