Billionaires lose billions: What's going on with Elon Musk and Sam Bankman-Fried?

Sam Bankman-Fried no longer qualifies for listing on the Bloomberg Billionaires Index, while Elon Musk's reported net worth has dropped more than $86 billion in recent days.

In a matter of weeks, two major players in the tech industry saw their net worth plummet by billions of dollars, in part due to their own business decisions.

Sam "SBF" Bankman-Fried, the former CEO of crypto exchange FTX, reportedly had a net worth of around $24 billion in March and $16 billion as recently as November 7, but now it doesn't even qualify for a listing on the Bloomberg Billionaires Index. Some reports suggest that with its holdings in crypto and equity trading platform Robinhood, FTX companies and Alameda Research, SBF could face serious financial difficulties in the days ahead.

Most of the ripple effects of liquidity issues at FTX spread to the entire crypto space within a week. Bankman-Fried said Nov. 7 that "assets are fine" at FTX in a now-deleted tweet, dismissing numerous reports about the firm's liquidity as "false rumors." He later announced that FTX was working on a potential deal with Binance to address the “liquidity crunch,” but the deal fell apart within 48 hours. SBF resigned and