After achieving unprecedented valuations in 2024, the tech industry has faced a tough reality check in 2025, with billions being wiped off the wealth of its most influential moguls. A perfect storm of factors—rising interest rates, an economic slowdown, tighter regulations on big tech and AI, alongside President Trump’s trade tariffs—has hit tech companies hard, leading to massive losses for the billionaires who control them.
Data from Stocklytics.com reveals that the top ten wealthiest tech moguls have lost nearly $340 billion so far in 2025, which is four times the amount they lost during the first quarter of the 2022 tech crisis.
A Loss Bigger Than the GDP of a Mid-Sized Economy
Tech billionaires are bleeding cash again, but this time, it’s even worse than during the 2022 crisis. The mix of Trump’s tariff policies, global trade wars, high interest rates, and economic slowdown has caused tech stocks to nosedive, erasing hundreds of billions of dollars from the portfolios of industry moguls.
According to the Bloomberg Billionaires Index, the tech’s ten biggest losers of 2025, Elon Musk, Jeff Bezos, Larry Elison, Michael Dell, Larry Page, Sergey Brin, Jensen Huang, Mark Zuckerberg, Steve Ballmer and Henry Samueli have collectively lost an eye-watering $337 billion year-to-date, a figure that is bigger than the GDP of a middle-sized economy like Czechia, Chile, Finland or Portugal. But even more worrying is that their combined year-to-date loss is much bigger than the one they suffered in the early days of the 2022 tech industry crisis.
During the first three months of 2022, their combined net worth melted by roughly $78 billion, or four times less than this year. Moreover, it took only 90 days of 2025 for these moguls to suffer 72% of their 2022 losses, which totaled $465 billion by the end of that year.
Elon Musk tops the list of tech`s biggest losers of 2025, with a staggering $110 billion year-to-date loss, five times larger than the one he suffered during the same period in 2022. Despite this huge drop, his wealth still stands at $322 billion, ranking him as the world’s wealthiest person.
Amazon’s owner, Jeff Bezos, lost $37.6 billion year-to-date, nine times more than in early 2022. Statistics show that Larry Ellison and Michael Dell both shed around $31 billion, or ten times more than in the same period three years ago, while Larry Page follows closely with a $30 billion loss. Sergey Brin, Jensen Huang, Mark Zuckerberg, Steve Balmer, and Henry Samuel round the list of the tech’s biggest losers, suffering net worth losses between $9 billion and $27 billion year-to-date.
Who is Still Making Money in 2025?
Unlike these tech titans, whose combined net worth loss is heavier than the GDP of a middle-sized economy, other business magnates continued making money in 2025. The Bloomberg data show Warren Buffet increased his wealth by a whopping $23.4 billion year-to-date, despite the macroeconomic challenges that have rocked global markets. Jeff Yass, the founder of Susquehanna International Group, follows Buffet with a $14.1 billion year-to-date gain. ByteDance co-founder Zhang Yiming added $13.6 billion to his fortune, ranking as the third most successful billionaire of 2025. Interestingly, of the top ten YTD wealth gainers, only three are from the tech sector, while the others come from industries like finance, retail, and real estate.
