Technology billionaires lose $16 billion as sector stocks sink
Technology tycoons lost $15.5 billion from their fortunes on Monday as a sell-off of the sector’s most valuable companies intensified. Facebook Inc.’s Mark Zuckerberg saw the biggest drop in net worth of $3.2 billion, followed by a $1.3 billion decline for Alibaba Group Holding Ltd.’s Jack Ma and a $1.2 billion wipeout for Amazon.com Inc.’s Jeff Bezos.
The 59 tech moguls on the Bloomberg Billionaires Index control $942 billion, more than any other industry in the ranking.
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