By now you've probably heard about all of the problems at Twitter, and how Elon Musk is facing a financial catastrophe. However, that's just the part of the iceberg that the ultra-wealthy Titanic hit that is visible. Most of the damage is below the surface.
Be prepared to shed a few tears for ultra-wealthy a**holes having to sell their second super-yacht.

Twitter was already carrying $13 Billion in debt, but now it's losing $4 million a day as its advertisers are fleeing, along with the most active Twitter users.
What this adds up to is: Elon Musk's net worth has been cut in half.

Musk's net worth has fallen to $177 billion after reaching a peak of $340 billion last year, according to Bloomberg.

According to Bloomberg's Billionaires Index, Musk is still the richest person in the world, ahead of Amazon's Jeff Bezos whose net worth is listed at $113 billion.

Oh the humanity!

Speaking of Jeff Bezos, the discount Doctor Evil that used to be the richest man on Earth. Why do you think he's no longer #1?

Amazon, one of the first companies to join the prestigious $1 trillion dollar valuation club, just passed another, admittedly less desirable milestone. This week, Jeff Bezos’ Everything Store became the first publicly traded company to lose $1 tillion in market valuation.

The mind boggling figures, first noted by Bloomberg, are the results of a worsening economy, repeatedly dour earnings reports, and massive stock selloffs. Amazon, valued at $1.882 trillion on June 21, on Thursday reported a comparatively measly $878 billion valuation. Microsoft, which briefly surpassed Apple as the world’s most valuable company last year, wasn’t far behind, with market valuation losses hovering around $900 billion. Combined, the two companies’ declines capture the effect of a lousy year most in tech would like to soon forget.

Oh the humanity! This was a two-fer because we got a mention for Bill Gates losing net wealth as well. I'm really trying to work up a tear for these a**holes. I really am!
Maybe I need to give it more time. I'm sure there is a tear worth shedding.

In the meantime, another Tech Bro that you are familiar with - Mark Zuckerberg - had a bad time too.

Meta’s (META) recent mass layoff marks a turning point for a company whose business model once seemed untouchable despite years of controversies over privacy and Russian election interference.

While some might blame Meta’s fall on CEO Mark Zuckerberg’s obsession with the immersive online world known as the metaverse, that’s only one factor that helped send its stock price plummeting 70% in the last year. Other major blows include the rise of short-form video platform TikTok, Apple privacy changes that hurt advertising revenue, and a lack of Gen Z users.
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In the meantime, Proulx said, “We predict a bleak 2023 for Meta.”

Oh the...well you know. I'm sorry, but I've been unable to work up a tear no matter how hard I've tried.
Finally, we have the most Tech Bro'est item of all - cryptocurencies.

The founder of the world’s second largest cryptocurrency exchange, FTX, has apologised for his company’s near-collapse this week, saying he “fucked up” in his calculations and in his communications during the crisis.

Sam Bankman-Fried, a billionaire and major donor to the US Democratic party who has lobbied Washington for tighter regulation of the crypto market, was speaking following a run on his Bahamas-headquartered FTX exchange.

Customers withdrew $6bn (£5.15bn) in the 72 hours before Tuesday morning, Reuters reported, citing a message to staff at FTX, when the exchange was forced to block further redemptions in an effort to remain solvent.
It has yet to restart withdrawals, is blocking new account signups and advising existing customers against depositing.

That's called a bank run. And this isn't the first crypto exchange to go under this year.

The turmoil at FTX is tearing through the cryptocurrency market, with the cornerstone digital asset, bitcoin, falling 7.6% over 24 hours to $16,775 and the second largest, ethereum, falling 4.4% to $1,205. Investors pulled $700m from Tether, the “stablecoin” that underpins much of the sector’s economy.

“I’m sorry. That’s the biggest thing,” Bankman-Fried wrote in a series of tweets. “The full story here is one I’m still fleshing out every detail of, but as a very high level, I fucked up twice.”

"I fucked up twice". That's a keeper. Meanwhile, Bitcoin was struggling.

At 5 p.m. ET Wednesday, bitcoin traded at $15,787.53, according to Dow Jones Market Data. That was down nearly 77% from its all-time end-of-day high, reached exactly one year earlier, of $67,802.30, and its lowest end-of-day level in two years.