Top tech moguls lose $33bn as Nasdaq drops most since 2011

 Top tech moguls lose $33bn as Nasdaq drops most since 2011

The Nasdaq Composite Index tumbled 4.4% Wednesday, the most in additional than seven years, erasing almost $33 billion in the fortunes of technology’s 61 richest people, good Bloomberg Billionaires Index.

Amazon’s Jeff Bezos, the richest person, lost $8.2 billion, reducing his value to $138 billion, while Facebook chief executive officer Mark Zuckerberg dropped $3.2 billion. Google co-founders Larry Page and Sergey Brin saw their fortunes slide with a combined $4.5 billion.

The 500 wealthiest people ranked on the Bloomberg index lost uniformly $71 billion because Dow Jones Industrial Average and S&P 500 also tumbled, erasing this year’s gains.

Read: Nasdaq confirms correction while S&P 500 and Dow erase 2018 gains

? 2018 Bloomberg L.P

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