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

The Nasdaq Composite Index tumbled 4.4 percent Wednesday, the most in more than seven years, erasing almost $33 billion from the fortunes of technology’s 61 richest people, according to the Bloomberg Billionaires Index.

Amazon’s Jeff Bezos, the world’s richest person, lost $8.2 billion, reducing his net worth 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 by a combined $4.5 billion.

The 500 wealthiest people ranked on the Bloomberg index lost a total of $71 billion as the 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

� L.P