Jeff Bezos, Elon Musk, and Mark Zuckerberg have each seen their net worths drop at least $64 billion this year

The net worths of some of the world's richest men have taken a dive this year.

A larger economic downturn and fears of a potential recession have led to a decline in the net worths of some of the world's richest people.

The billionaires have lost a lot on paper so far.

• Musk: $73.2 billion
• Bezos: $65.3 billion
• Zuckerberg: $64.4 billion

Musk has been hit the most. His net worth peaked at $340 billion in November, but fell to $201 billion last month. It now has a value of $197 billion.

The two billionaires are worth $127 billion and $61.2 billion, respectively.

Tech stocks have seen a steep decline this year due to market shifts and inflation concerns.

Amazon stock fell over 40 percent from its high of $3,773.08 on July 13, 2021. On April 29 this year, after the e-commerce giant posted disappointing Q1 earnings that revealed its first loss in seven years, there was a 9% drop in the stock.

Insider reported last month that Meta, the parent company of Facebook, instituted a hiring freeze after its shares fell by over 40%.