Why 2022 was a bad year for billionaires

We all watched in amazement as the world’s super-rich went gangbusters during the pandemic. Some of the increases in wealth were next level. If 2020 and 2021 were dream years, 2022 has been a nightmare for billionaires.

James Thomson writes the Chanticleer column in the Australian Financial Review. James explains why the pandemic was so profitable for the uber-wealthy, and why 2022 has seen some experience up to 40 percent falls in their net worth.

In today’s Briefing, why 2022 was a bad year for billionaires.

Headlines:

- Medibank customer information leaked to dark web
- Democrats outperform expectations
- Russia withdraw from Kherson
- Meta lays off 11,000 staff
- Eggs thrown at King Charles

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