In Pictures: Elon Musk, Mark Zuckerberg and other wealthiest people lose billions of dollars

The networth of some of the world’s billionaires are plunging as a fallout from the Russia-Ukraine situation. Commodity values are flaring higher, sanctions are being imposed, and stock markets the world over are on an edge. We look at the Top 10 billionaires who saw some of their wealth being shaved off.

At the top of the list is Facebook’s Mark Zuckerberg. As of March 22, his networth stood at $80.1 billion, down by $45.5 billion compared to the year-ago period.

Next is Elon Musk with a networth of $235 billion. His holdings shed over $35.3 billion compared to the previous year. Musk, however, remains the wealthiest businessman.

Bernard Arnault, the CEO of LMVH, the world’s largest luxury goods company, lost $31.9 billion compared to a year ago and is now worth $146 billion.

Changpeng Zhao, with $65.4 billion, is the founder and CEO of Binance, the world's largest cryptocurrency exchange. His fortunes shed $30.4 billion over the past year.

Amancio Ortega owns the majority stake in Inditex, the world's largest clothing retailer. Ortega has lost $18.3 billion compared to 2021. His networth is at $65.4 billion.

French businesswoman and the granddaughter of the founder of L’Oreal, Francoise Bettencourt Meyers, has a networth of $77.8 billion. Meyers lost a little over $15.5 billion.

Zhong Shanshan, chairman of Nongfu Spring, a China-based bottled water company, lost $12.3 billion from a year-ago period. His networth drops to $67.5 billion.

Steve Ballmer, who served as Microsoft CEO for 14 years, is at eighth in the current listings, with $108 billion. He lost $12 billion in these 12 months.

Russian oligarch Gennady Timchenko, with $11 billion has lost almost 100 per cent of his current networth.

Co-founder and Chairman of Nike, Phil Knight, has a networth of $51 billion after dropping a little over $11 billion.