Jeff Bezos loses $10 billion overnight; Elon Musk takes a $8-billion hit

The S&P 500 fell 4.4 per cent, the most since June 2020, while the tech-heavy Nasdaq 100 tumbled 5.5 per cent

The fortunes of the US’ richest billionaires tumbled on Tuesday by $93 billion, the ninth-worst daily loss ever, as hotter-than-expected US inflation data roiled markets.
 

Jeff Bezos's wealth plunged by $9.8 billion, the most among those tracked by the Bloomberg Billionaires Index. Elon Musk's net worth dropped by $8.4 billion. The fortunes of Mark Zuckerberg, Larry Page, Sergey Brin and Steve Ballmer all declined by more than $4 billion, while Warren Buffett and Bill Gates lost $3.4 billion and $2.8 billion, respectively. 

The billionaires’ large daily losses reflect the broad selloff in the US stock market, as