Business InsiderYesterday·3 min read·medium

9 tech titans took a $150 billion wealth hit during Thursday's AI stock plunge — with Elon Musk alone losing $80 billion

✦AI Summary

Nine of the world's wealthiest tech leaders lost over $150 billion in a single day following a sharp decline in AI and chip-related stocks. The market sell-off was driven by investor concerns regarding potential policy shifts in AI and data-center spending following US election results.

Why it matters

This massive wealth contraction highlights the extreme volatility of the AI-driven tech sector and its sensitivity to political and regulatory shifts.

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Elon Musk, Jeff Bezos, Mark Zuckerberg, and Jensen Huang lost a lot of wealth on Thursday. Win McNamee/Getty Images; Gilbert Flores/Variety via Getty Images; Chris Unger/Zuffa LLC/Getty Images; Chip Somodevilla/Getty Images The nine richest tech tycoons lost over $150 billion in wealth during Thursday's sell-off. Elon Musk's net worth shrank by over $80 billion as Tesla and SpaceX shares tanked. Michael Dell, Jensen Huang, and Larry Ellison saw their fortunes decline by over $10 billion each. Thursday was a bad day to be a tech boss. The world's nine wealthiest tech titans saw just over $150 billion wiped from their combined fortunes in a single day due to a frenzied rout in AI and chip stocks. The Nasdaq 100 plunged into a correction , posting a more than 6% drop and its worst day since the COVID-19 pandemic.

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