Coronavirus wiped out over $ 400 billion in value from the top five tech companies

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The world’s five largest technology companies – Amazon, Apple, Alphabet (Google’s parent company), Facebook and Microsoft – have lost $ 416.63 billion in combined costs as markets continue to slide because of fears of the Coronavirus and economic uncertainty.
Apple shares decreased by 9.88%, Facebook shares by 9.30%, Alphabet by 8.2%, Amazon by 7.98%, Microsoft declined 9.48%, with investors still concerned about the spread of the Coronavirus and its potential impact on the economy.

And this decrease, according to the day before yesterday, Thursday, is greater than it was last Monday when the five largest companies together lost $ 320 billion, before recovering some of those losses during the week.

Investors seem to be more concerned about the size of consumers and businesses who will cut spending if the economy enters a recession, and there are additional concerns about supply chain restrictions on manufacturing products. For example, Apple warned in February that it did not expect to meet its second-quarter revenue forecast.

It is not only the weekly figures in the market value that have decreased. Since the beginning of the year, the five companies have witnessed a decrease in their market value as well.

The CNBC news report indicates that Facebook’s market value decreased by 24.7%, while Google’s value decreased by 17%, and Apple witnessed a decrease in its market value by 15.5%, while Microsoft has decreased its market value by 11.8% and Amazon by 9.3%.

Corona undermines the wealth of the wealthy
It is not only the stocks and market value of technology companies that have been affected by the epidemic of the Coronavirus but also the wealth of the world’s wealth too. Fortune of $ 104.4 billion, topped the list of the wealthy.

As for Microsoft founder Bill Gates, he lost $ 5.3 billion of his wealth, but his net worth remained around $ 99.2 billion.

For his part, Mark Zuckerberg, Facebook founder and CEO of the company lost his wealth by the day before Thursday, $ 5.7 billion, but his net worth remained at $ 57.4 billion.

For his part, former Microsoft CEO Steve Ballmer lost $ 4.3 billion and retained a fortune of $ 52.3 billion. As for the founder of the company, “Oracle” Ray Allison, his wealth decreased by $ 5.6 billion, and his net worth became $ 51.7 billion.

In turn, Larry Page, who is one of the founders of Google, lost 4 billion dollars, and his fortune became 51.7 billion dollars, while his other founding partner, Google Sergey Brian, his fortune declined by 3.8 billion dollars, but he kept a net worth of 49.8 billion dollars.

Source: websites