Tech’s biggest CEOs and founders lost $61 billion during the stock market’s plunge in October — here’s who got hit hard (FB, AMZN, AAPL, NFLX, GOOG, BIDU, BABA)

Photo by Drew Angerer/Getty Images

October was a rough month for billionaires in the tech sector, who saw their net worth plummet as stocks took a hammering. 

According to Bloomberg data, the CEOs and founders of the most popular tech companies “FAANG+BAT” lost $ 61 billion in October.

The tech-heavy Nasdaq index plunged 9.2%, posting its worst month since the financial crisis.

And among the hardest hit were the “FAANG+BAT” stocks —  Facebook  (-7.7%), Apple (-3.1%), Amazon (-20.2%) Netflix (-19.3%), Google (-9.8%), Baidu (-16.9%), Alibaba (-13.6%) and Tencent (-14.1% in Hong Kong). 

The list below provides details of the estimated net worth of some of tech’s richest CEOs and founders:

Reed Hastings — CEO and cofounder of Netflix

Reuters/Mike Blake

Rank on Bloomberg Billionaire’s Index: 463

Net worth on October 31: $ 3.9 billion (-19% from $ 4.8 billion at the end of September)

Holdings in Netflix: $ 1.7 billion

Source: Bloomberg

Robin Li — CEO and cofounder of Baidu

China Photos/Getty Images

Rank on Bloomberg Billionaire’s Index: 82

Net worth on October 31: $ 13.6 billion (-16% from $ 16.1 billion at the end of September)

Holdings in Baidu: $ 13.4 billion

Source: Bloomberg

Laurene Powell Jobs — wife of the late Apple cofounder Steve Jobs

Getty

Rank on Bloomberg Billionaire’s Index: 35

Net worth on October 31: $ 21 billion (-3% from $ 21.6 billion at the end of September)

Holdings in Apple: $ 8.5 billion

Source: Bloomberg

See the rest of the story at Business Insider

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