Key facts
- The Nasdaq 100 fell more than 6% on Thursday, its worst day since the COVID-19 pandemic, per the report.
- Elon Musk's net worth fell about $80 billion, or more than 9%, to $785 billion, per the report.
- Michael Dell lost about $19 billion, more than 9% of his net worth, to $190 billion, per the report.
- Jensen Huang's fortune fell about $15 billion, or 9%, to $151 billion, per the report.
- Larry Ellison's net worth fell $10 billion, or 6%, to $158 billion, per the report.
- The report attributed the selloff to investor anticipation of Democrats curbing AI and data-center spending after midterm wins.
Nine of the world's wealthiest technology figures lost a combined $152 billion in a single day as AI and chip stocks sold off on Thursday, according to a Business Insider report published November 6, 2026. The Nasdaq 100 fell more than 6%, its worst day since the COVID-19 pandemic, and entered a correction. The report attributed the selling to investors anticipating that Democrats would rein in AI and data-center spending after winning control of the House and Senate in the midterm elections.
Elon Musk took the largest hit. Tesla stock fell 11% and SpaceX stock fell 9%, and his net worth dropped by about $80 billion, or more than 9%, to $785 billion, the report said. Michael Dell's net worth fell by about $19 billion, also more than 9%, to $190 billion, as Dell Technologies stock fell 15%.
Nvidia's Jensen Huang lost about $15 billion, or 9%, to $151 billion as the chipmaker's stock slid 9%. Oracle's Larry Ellison saw his net worth fall by $10 billion, or 6%, to $158 billion, with Oracle stock down 7%. Meta's Mark Zuckerberg lost nearly 4%, or about $8 billion, to $215 billion. Steve Ballmer, described by the report as former Microsoft CEO, took a 3% hit, or roughly $6 billion, to $188 billion, as Microsoft stock fell about 4%.
Alphabet cofounders Larry Page and Sergey Brin and Amazon founder Jeff Bezos each saw declines of less than 2%, or below $5 billion, as Alphabet and Amazon each fell a little over 2%. The report said all nine ranked among the 15 richest people on Earth at Thursday's market close, and several remained wealthier than 12 months earlier. It said Nvidia, SpaceX and Oracle shares were higher in premarket trading on Friday as of 6:30 a.m. ET.