All but two of the world’s 10 wealthiest people have seen their fortunes shrink this year as jitters mount over the AI boom and the broader run-up in stocks.
Alphabet’s Larry Page and Sergey Brin, Amazon’s Jeff Bezos, Meta’s Mark Zuckerberg, Oracle’s Larry Ellison, LVMH’s Bernard Arnault, Nvidia’s Jensen Huang, and Berkshire Hathaway’s Warren Buffett are all in the red for 2026 so far, per the Bloomberg Billionaires Index.
Ellison has seen his personal wealth slump by an unrivaled $47 billion to $200 billion as of Tuesday’s close, reflecting a 23% plunge in Oracle stock year to date.
Investors have grown more skeptical about the database giant’s AI infrastructure buildout, particularly as big names such as Michael Burry of “The Big Short” have warned the strategy won’t pay off.
However, Oracle’s shares were trading 10% higher in Wednesday’s premarket after the company’s earnings report on Tuesday signaled strong AI demand.
Bezos’ fortune has shrunk by $15 billion this year to $239 billion, reflecting a 7% drop in Amazon stock as Wall Street frets over the immense cost of its AI buildout.
The online retail and cloud services giant has projected it will spend $200 billion on microchips, data centers, and other AI equipment this year.
Lower down the rich list, Microsoft’s former CEO, Steve Ballmer, has seen $25 billion wiped off his net worth this year, reducing it to $143 billion at Tuesday’s close.
The enterprise software giant’s shares have slumped 16% this year as traders increasingly worry AI tools could displace the company’s Office suite.
Outside of tech, Arnault has seen around $42 billion wiped off his net worth this year, reducing it to about $166 billion at Tuesday’s close. That reflects a 22% plunge in LVMH stock so far this year, courtesy of cooling growth and the risk that the Iran conflict disrupts international trade and travel for a prolonged period.
Elon Musk and Jim Walton are the only members of the top 10 to have grown their net worths this year as of Tuesday’s close.
Musk has added an unmatched $44 billion to his personal wealth this year, lifting it to $664 billion. The gain reflects the soaring value of his stakes in SpaceX and xAI, which has more than offset the hit from an 11% drop in Tesla’s stock price this year.
Walton, an heir to the Walmart fortune, has added $12 billion to his net worth this year, thanks to a 12% jump in the retailer’s shares. That’s been fueled by Wall Street buzz over the growth of Walmart’s online business and the potential payoff from its AI investments.
His siblings, Alice and Rob, have also added around $12 billion to their respective fortunes. All three siblings rank among the top 10 wealth gainers this year.
