Elon Musk and Jeff Bezos are among the world’s richest people who have lost billions have after a “painful” nosedive in the stock market.
Tesla and SpaceX founder Elon Musk lost $25.1bn (£18.5bn) while Amazon’s Jeff Bezos saw a $20bn (£14bn) drop in his fortune.
Facebook, or Meta’s, Mark Zuckerberg is $10.4bn (£7.6bn) worse off while Changpeng Zhao of Binance lost $17.7bn (£12.5bn).
Mr Musk is still by far the world’s wealthiest human, with a total fortune of $243.4bn (£180bn) despite his value dropping by 9%, according to the Bloomberg Billionaires Index.
Tech-focused Nasdaq saw fourth successive weekly drop, this time tumbling 7.6% for the week at Friday’s close.
The news comes as Musk’s company Neuralink looks set to begin its first ever human trials of its revolutionary brain-computer technology, which is implanted into the skull and can allow people to use technology with nothing but their brain.
Neuralink has posted a job listing for a ‘Clinical Trial Director’ on its website, indicating that the company is planning to take things to the next level after successful trials on pigs and monkeys.
Bezos has also been in the news because the Amazon founder has invested in a start up with laboratories built around the globe focused on developing something capable of “rejuvenating parts or all of the human body.”
He has chipped in alongside biotech mogul Evan Zimmermann to find a scientific ‘fountain of youth’.
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GlaxoSmithKline icon Hal Barron, 59, will run Bezos’s new “anti-ageing” firm, called Altos Labs.
The company has a £2.2 billion war chest to find a revolutionary cell programming technique that could help humans avoid all diseases and live for huge amounts of time years.
The biotech firm has a crack team of scientists including a string of Nobel prize winners.
Barron, who will start his role in August, said: “I am deeply honoured to have been offered this once-in-a-lifetime opportunity to lead such a unique company with a transformative mission to reverse disease.”