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)

Jeff BezosPhoto by Drew Angerer/Getty Images

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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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Post Author: martin

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Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

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