America’s richest lost $660 billion collectively in 2022 — Elon Musk lost the most

Globally, the world's , according to Forbes. The United States' billionaires lost $660 billion collectively, the highest of any country by Forbes's count, as tech stock prices took a nosedive fueled by rising interest rates, soaring inflation and a worsening economy.

Of America's billionaires, Tesla, SpaceX, and newly minted Twitter CEO Elon Musk saw his fortune diminish the most. Musk's net worth dipped by about $115 billion this year, according to Forbes.

Tesla's stock price is down nearly 70% year-to-date, as of Dec. 27. Longtime Tesla investors are on the electric vehicle company.

Although , he's still the wealthiest person in the United States, with a net worth of nearly $139 billion as of Dec. 27, according to Forbes.

And while Musk is "the biggest loser of 2022," according to that publication, he's not the only billionaire whose net worth took a hit. Here's how much five other U.S. billionaires lost in 2022 according to Forbes.

Some high-profile moguls completely dropped off of the billionaires list in 2022. Rapper Kanye West, who now goes by Ye, fell from the ranks after Adidas cut ties with him on Oct. 25 amid his continued anti-Semitic remarks, for example.