Billionaires Elon Musk and Jeff Bezos saw their fortunes plunge on Tuesday after a higher-than-anticipated inflation report was released, which led market experts to brace for another aggressive interest rate hike from the Federal Reserve.
Amazon founder Bezos’s wealth plunged by $9.8 billion, according to the Bloomberg Billionaires Index, while Tesla founder Musk saw his net worth decline by $8.4 billion.
