2024-04-21 14:19:49
New Delhi: There was a huge decline in America’s tech stocks on Friday. There was a decline of $ 400 billion in the market cap of the top seven companies, known as Magnificent-7. This amount is more than double the net worth of the world’s second richest man, Jeff Bezos ($197 billion). The biggest decline was in the shares of AI chip maker Nvidia. The shares of this company fell by 10 percent and its market cap decreased by $ 200 billion. That means it lost more money than Bezos’s net worth in just one day. Nvidia’s shares are showing a continuous decline for the last few days and it has come down to 20 percent less than its all-time high. This is the second stock included in the Magnificent-7 which is stuck in the bear market territory. Elon Musk’s company Tesla is already stuck in this. Its price has fallen by 40 percent this year. Nvidia’s stock had reached all-time high a month ago but since then it has fallen by $ 200. Since March 8, the company’s market cap has fallen by $400 billion. With this, this company has slipped from third to fifth position in the list of world’s most valuable companies. The market cap of the company now stands at $1.905 trillion. This is the first time in two months that Nvidia’s market cap has fallen below two trillion dollars. Tesla has also reached number 17 with a market cap of $468.32 billion. Despite this, it remains the world’s most valuable auto company. On Friday, along with Nvidia and Tesla, shares of Microsoft, Apple, Alphabet, Amazon and Meta Platform also declined.
This company earned more than the market cap of Reliance in one day, even Elon Musk’s earnings do not last anywhere
list of billionaires
The fall in stocks also led to a decline in the net worth of the world’s billionaires. Amazon founder Jeff Bezos lost $4.28 billion while Meta Platforms CEO Mark Zuckerberg’s net worth declined by $7.16 billion. Elon Musk’s net worth declined by $2.04 billion. Bill Gates lost $216 million, Larry Page lost $1.44 billion, Steve Ballmer lost $1.66 billion, Sergey Brin lost $1.35 billion and Larry Ellison lost $1.07 billion. The net worth of French businessman Bernard Arnault, who was at number one in the list of the rich, increased by $ 102 million. There was a rise in the net worth of Mukesh Ambani and Gautam Adani on Friday.