Tech Billionaires Losing Tons In Financial Crisis

Silicon Alley Insider:

The tech industry has been brimming with billionaires over the last decade, especially since the birth of Web 2.0. But these are dark times, and the richest of the rich are certainly feeling it.

Don't feel too sorry for them, obviously (They're still billionaires.) But they've lost a lot more than you have.

Welcome to The Biggest Losers: Tech Edition. It's a quick summary of how much we estimate your favorite moguls have lost, ranked from least to first. Advance the slides using the 'Next' button in upper right corner of each slide.

Read the whole story: Silicon Alley Insider

Comments

[berrycooda]

WELL.....T­HAT IS JUST PITIFUL...

Doubt if they will ever be poor enough to need a welfare check.....

[markinaz]

Yeah, they were loser long before this financial crises hit.

[spinns17]

oh well i lost a ton on tech in 2k.payback time .lol

[Fabini]

It's always fun to joke about the rich becoming less rich. But we are in a truly bad economic time. The poor are becoming destitute and the pay-check to pay-check working family is going to be destitute soon.

In the end, the rich will still have food, shelter, and health care. How many else will? We, the citizenry and the government, must prepare for basic survival.

[firelord5000]

Why should they shut up? IF you actually bothered reading this article to its entirety, all the people on this list worked pretty hard to get their wealth, IE no silver spoon babies.

[shyamg22]

this is true. i have more time for this lot than the lot on the street.

[Samalabear]

I have no problem with the fact that they worked hard. My problem comes with the fact that they have not kept a lot of the wealth here in America, i.e. jobs. They want us to buy their products but they don't want us to make their products. Many of them have simply bought into America being a consumer society and not understanding that we cannot survive like this. Because of this they have made it difficult for others behind them to realize their dreams and get the capital to do this.

If these guys are committed to producing products in America using American citizens to make their products and having their tech support centers in America I will back them 100 percent, but until then, forget it.

[firelord5000]

Why should they? They are multinational corps, the way our government has set up current laws, these companies make more profit by getting products made overseas, and doing R&D in the US.

If you want them to keep jobs in America, take up the issue with the government, these are first and foremost businesses, not fairplay team.

[TheVicar]

Oh really? Bill Gates is the poster child for a silver spoon baby. The fortunes of Microsoft were founded, ultimately, on the exclusive contract to provide MS-DOS to IBM, and that contract came about because Gates' mother and an IBM executive's wife were at the same function. And, predictably, IBM came out the worse for the association -- go look up the history of OS/2 sometime.

[firelord5000]

Oh yes Bill Gates is a silver spoon baby *Eyes rolling". Don't confuse smart business moves, with silver spoon, makes you look like Bill O.

[curiousasheck]

Silicon Valley should just SHUT UP.

[000Jade000]

"But they've lost a lot more than you have."

Really? Unless they have lost their jobs, homes, pension, savings, and health care, they've lost FAR LESS than the majority of people.

As a society, we need to stop the insanity of measuring everything in terms of just money lost and money gained.

Families are living in their cars. Winter is near.

Let me know when these guys have truly lost "more" and are living in one of their 100 cars.

[rogerse]

Let me know when your starving to death and can't even afford clean drinking water for yourself or your family, then complaining about how much you've lost.

[ronito6]

No...wait until your are cannibalizing your body parts and are wearing car mat loin cloths.

Then you can complain.

If your life is falling apart otherwise because of the greed of others, whistle a happy tune mofo.

[Samalabear]

Yes, I thought that was a stunning statement at the beginning of this article. From reading the "meltdown" blogs here most people have been steadily losing during the entire Bush Administration, leaving no room for mistakes -- and now the final blow. Nope, not feeling sorry for these guys.

It would be California's good luck if Whitman loses enough not to be able to run for office. Families who were able to make a decent to good living on ebay after the last economic downturn took jobs away started losing those businesses a couple of years ago thanks to Meg and her love of cheap Chinese imports and courting big-box stores to sell on eBay -- and those fees, even without the cheap imports, lots of small businesses went under just due to that factor.

This tech center has been notorious for H1B visas that have lower the incomes of Americans and sending jobs overseas (customer service, anyone?) I mean, talk about un-American activities!!
So, please, cry me a river. Nope, not feeling sorry for these characters! They owe everything to America and have done a great deal to undermine America in the pursuit of their bottom line.