Technology stocks crash: Elon Musk's wealth erodes by .20 15.20 billion

Impact on the market of the signal to speed up the tapping program

New Delhi: Amid fears of inflation and austerity measures, technology stocks have plunged billions of dollars into the assets of US tech giant Elon Musk.

Elon Musk's net worth fell 15 15.20 billion on Friday. Shares of Tesla Inc. continue to sell. Following the decline, Musk's wealth is still 268.90 billion, up 72 percent from the beginning of the current year, according to a report citing the Bloomberg Billionaires Index.

Jeff Bezos's net worth fell to 70 2.70 billion as Amazon's stock plummeted in the US stock market. Oracle Corp. co-founder Larry Ellison's fortune has eroded by 2.60 billion.

Mark Zuckerberg's fortune fell ડો 1.30 billion to 4 114.70 billion, the report said. Markets are still responding to higher inflation and signs that the US Federal Reserve is stepping up its tapping program. The combined wealth of the owners of the top ten technology companies in the US has eroded by 27 27.40 billion.