Tumbling tech stocks and cryptocurrencies have seen the fortunes of some of the world’s richest people take a hit over the past week.

Bloomberg reports that Tesla and SpaceX founder Elon Musk lost $25.1bn, Amazon’s Jeff Bezos saw a $20bn drop in his fortune, Changpeng Zhao of Binance lost $17.7bn, and Facebook’s Mark Zuckerberg is $10.4bn worse off.

It was the worst week for the stock market since the crash at the onset of the Covid-19 pandemic.

Big-name companies suffered, with Peloton falling below its IPO price and Netflix suffering its steepest drop in a decade. Stocks in chipmakers also struggled.

At Friday’s close, the tech-focused Nasdaq was down 7.6 per cent for the week, its biggest decline since March 2020. This is also the fourth successive weekly drop for the index, the longest decline in nine months.

The prospect of interest rate hikes by the Federal Reserve is on the cards with a meeting planned for Tuesday and Wednesday of the coming week. Investors are hoping for more guidance on the central bank’s plan to raise rates.

Turbulence in the markets is expected to continue into the new week with a slew of major earnings reports due including Apple, Microsoft, IBM, Intel, and Tesla.

The value of cryptocurrencies also suffered this week, with bitcoin dropping to a six-month low as the value of other digital assets also suffered.

An already dramatic crash in the crypto markets became yet more drastic as hundreds of billions of dollars were lost by investors over the week.

Bitcoin has now fallen 16.8 per cent over the last week. Other cryptocurrencies have seen even more dramatic losses: ethereum is now down 25 per cent.

It was already the worst start of the year for bitcoin in history. After hitting a record high of almost $68,000 (£50,000) in November, it is now worth under $35,000.

According to the Bloomberg Billionaires Index, Mr Musk’s wealth dropped nine per cent, but he still leads the pack of the world’s wealthiest people by an enormous margin, with a total fortune of $243.4bn.

Mr Bezos trails at number two with wealth totalling $167.6bn. Immediately behind him is French luxury retail tycoon Bernard Arnault, with $167.5bn — poised to surpass the Amazon founder into second place as the only person in the top ten to not lose any net worth in the past week.

Microsoft founder Bill Gates is number four with $128.6bn and Google’s Larry Page rounds out the top five with $116.5bn.

SOURCE:https://brandspurng.com/2022/01/24/elon-musk-and-jeff-bezos-lose-billions-as-tech-stocks-crypto-suffer-steep-falls/

Ok.
The Money wen Dem loose, where e dey enter ?

Optimistguy1969:
Ok.
The Money wen Dem loose, where e dey enter ?

In case you do not know what Monkey Business is all about; Now read this:
************
A lot of monkeys lived near a village.

One day a merchant came to the village to buy the monkeys.

He announced that he would buy the monkeys for £100 each.

The villagers thought he was mad.

They thought how can somebody buy stray monkeys for £100 each?

Still, some people caught a few monkeys and gave them to the merchant and he gave them £100 for each monkey.

This news spread like wildfire and more people caught more monkeys to sell to the merchant.

After a few days, the merchant announced that he would buy monkeys for £200 each.

Even the lazy villagers now ran around to catch the remaining monkeys and sold them for £200 each.

Then the merchant announced that he will buy monkeys for £500 each.

The villagers started to lose sleep! They caught six or seven monkeys, which was all that was left, and got £500 for each one.

The villagers were waiting anxiously for the next announcement.

Then the merchant said he was going home for a week and when he returned he would buy monkeys for £1,000 each.

He asked his employee to take care of the monkeys he bought.

The merchant went home and the villagers were very sad as there were no more monkeys left for them to sell at £1,000 each.

Then the employee told them he will secretly sell them monkeys for £700 each.

This news spread like wildfire. Since the merchant will buy monkeys for £1,000 each, there is a £300 profit for each monkey.

The next day the villagers made a queue near the monkey cage.

The employee sold all the monkeys for £700 each. The rich bought monkeys in big lots. The poor borrowed money from money lenders and also bought monkeys.

The villagers took care of the monkeys and waited for the merchant to return.

But nobody came.
They ran to the employee, but he had already left too.

The villagers then realised that they had bought the valueless stray monkeys for £700 each and were unable to sell them.

Beware of Monkey Businesses

Real Businesses are always based on Real Products and Services; any profit that comes cheap has a question mark. For instance, invest #2m today and get #4m in 30days. You will get the first month, second month, with the urge to make more money, you invest both the interest and principal into the 3rd month. That's when they vacate.

No more monkeys business this year....

Nice and sweet promises are calculated for u which look wonderful on paper but a mirage in reality.

invest wisely

Again never engage in any form of Monkey Business like Crypto in "2022".

Remain blessed and shine your eyes!!!

#copied.

Those two, Jeff Bezos and Elon Musk, are the Dons of the monkey business.

Believe they lost money at your own peril.
They have just 2 rules:

1. Don't lose money.
2. Don't ever forget rule 1

FreeStuffsNG:


In case you do not know what Monkey Business is all about; Now read this:
************
A lot of monkeys lived near a village.

One day a merchant came to the village to buy the monkeys.

He announced that he would buy the monkeys for £100 each.

The villagers thought he was mad.

They thought how can somebody buy stray monkeys for £100 each?

Still, some people caught a few monkeys and gave them to the merchant and he gave them £100 for each monkey.

This news spread like wildfire and more people caught more monkeys to sell to the merchant.

After a few days, the merchant announced that he would buy monkeys for £200 each.

Even the lazy villagers now ran around to catch the remaining monkeys and sold them for £200 each.

Then the merchant announced that he will buy monkeys for £500 each.

The villagers started to lose sleep! They caught six or seven monkeys, which was all that was left, and got £500 for each one.

The villagers were waiting anxiously for the next announcement.

Then the merchant said he was going home for a week and when he returned he would buy monkeys for £1,000 each.

He asked his employee to take care of the monkeys he bought.

The merchant went home and the villagers were very sad as there were no more monkeys left for them to sell at £1,000 each.

Then the employee told them he will secretly sell them monkeys for £700 each.

This news spread like wildfire. Since the merchant will buy monkeys for £1,000 each, there is a £300 profit for each monkey.

The next day the villagers made a queue near the monkey cage.

The employee sold all the monkeys for £700 each. The rich bought monkeys in big lots. The poor borrowed money from money lenders and also bought monkeys.

The villagers took care of the monkeys and waited for the merchant to return.

But nobody came.
They ran to the employee, but he had already left too.

The villagers then realised that they had bought the valueless stray monkeys for £700 each and were unable to sell them.

Beware of Monkey Businesses

Real Businesses are always based on Real Products and Services; any profit that comes cheap has a question mark. For instance, invest #2m today and get #4m in 30days. You will get the first month, second month, with the urge to make more money, you invest both the interest and principal into the 3rd month. That's when they vacate.

No more monkeys business this year....

Nice and sweet promises are calculated for u which look wonderful on paper but a mirage in reality.

invest wisely

Again never engage in any form of Monkey Business like Crypto in "2022".

Remain blessed and shine your eyes!!!

#copied.

They are the Dons of the monkey business. Believe they lost money at your own peril.
They have just 2 rules:
1. Don't lose money.
2. Don't ever forget rule 1

Eye opening