Let's get to our next guest, Devon Pendleton, Bloomberg Wealth Reporter. We wanted to take a look at some of the billionaires around the world and some of the huge losses that were racked up this year. We we know that stock stumbled and bonds stumbled, worst year ever for bonds and about down year for the SNP five. Among the names up there near the top of the list obviously Elon Musk and Jeff Bezos, and I would argue, maybe not in terms of the amount of money lost, but
potential losses. You can probably put Sam Bankman Freed in there as well. Of course, that's the case that we'll go through the courts, and we have to wait and see if we say good morning to Devon Pendleton's our our wealth reporter to take a closer look at this, Devin, what are some of the shocking trends that happened this
year that led to these big losses. Well, I think the overall, of course, the markets um coming down quite dramatically, especially if you compare it to one where everything was just so frosthly and surging. I mean that definitely kind of across the board. Relate took out some of the big names. A lot of the big big fortunes are very concentrated in the tech industry of course, Jeff Baso, Amazon,
Mark Zuckerberg and Meta. But you also had some sort of outlier events here which kind of exacerbated the pain. Of course, you have, um, the war in Ukraine, which took a severe blow to the Russian fortunes. Not only were the markets down, the ruble depreciated, but you also saw, mean many of these very wealthy Russians, their assets are
quite concentrated in the West. Um, they have a lot of property in London, they owned companies all over in the US, Europe, and the sanctions just I mean absolutely obliterated the value of those assets. Um. And this, of course Elon Musk not just Tesla being down, but also buying Twitter and taking a gamble there meant he had a lot of sell a lot of stock and also leveragiest desion which definitely added to his losses. Not everybody was a loser, and so Mr Rami come up and
a rise. His rise seems at the moment on still Bob, Yes, definitely, I mean, got on Donnie is a fascinating story. Um. He was somewhere. I think he was in the twenties at the beginning of the year in terms of or so richest person in the world. He's now number three. He's the first Asian to rank in the top three richest people in the world. He's a cold tycoon. So um that's where he originally kind of made his fortune.
And with the upheaval and the energy markets, suddenly Cole was kind of thrust from the back burner to being a very important asset that definitely burnished his fortune. And he's diversifying into everything, so he's not going anywhere in the year ahead. What was the most interesting dislocation that you saw either up or down in this past year, and with whom Donnie was certainly most interesting on the upward front. On the downward front, I mean, you can't
you can't avoid talking about Sam Banking Fried. Of course, you know, the there's that question of was he worth anything at any point ever, But if you look at you know he was leveraging a fortune which at its peak um we estimated to be worth twenty six billion dollars, which was real in the sense that he had investors um piling money into FDx, he had clients putting money in there. He had a ton of um capital at
his disposal she was throwing around. I mean, he was donating to politicians, He was propping up so many other cryptos as things started to hit the skids, and he was also buying huge steaks in public companies like Robin Hood so real or not. He was leveraging that fortune to huge effect and to have it just vaporized in the matter of a week. I mean, he went from sixteen billion dollars to zero in a matter of days.
It's not something we've really ever seen before. It was shocking and really is going to have a knock on effect for years now. You mentioned the on Musk, but there was one man who really had a tough time of it, and some are blaming well nearly everybody's blaming those losses on his obsession, as some have put it on the so called metaverse. And we're talking of course Mark Zuckerberg. Yes, Mark Zuckerberg had a horrible year. He was down in terms of percentage wise, he was down
more than anybody. He was done about sixty this year UM, which is a big fall for him. I mean, he's for years he's kind of been among the top five or eight richest people. He's now done in. I believe he hasn't been that low in eight years. Um. And it really is because yes, there's the tech downturn, but also just to pivot to the metaverse um, which he is such a believer in. But it is not showing any signs of turning a profit anytime soon. He's digging in. Um,
he's betting the house on it. You mentioned one political leader of Vladimir Po. Was there any other political leader who quite particularly lost a lot of money? Um, in terms of political leader, that is a great question. Um. We Well, I can talk about who definitely did not lose money and who I reported quite a bit about. But someone who gained quite a bit of money this year were some of the auto crafts in the Gulf in the Middle Eastern Gulf region. Wrote in particular about
the Nayan family above Dabby Um. Energy markets definitely turned in their favor this year. They also have kind of consolidated a lot of power with the Ukraine War. They're richer than ever. Excellent, Thanks very much, Devon Devon Pendleton, Bloomberg Wealth Reporter. We've been taking a look at some of the losses and some of the gains of the world's richest billionaires right across the globe.