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<ul class="summary-list"><li>A federal judge ruled against Google in a major antitrust case. <a target="_blank" class="" href="https://www.businessinsider.com/apple">Apple</a> could be a loser, too.</li><li>That's because a big part of the case was about exclusive search deals Google does with Apple and other platform owners.</li></ul>A federal judge just ruled against <a target="_blank" class="" href="https://www.businessinsider.com/google">Google</a> in a major antitrust case. Apple could be caught in the blowback.That's because a big part of the <a target="_blank" class="" href="https://www.businessinsider.com/google-violated-antitrust-law-to-keep-search-monopoly-judge-rules-2024-8">government's case against Google</a> — that it has an illegal monopoly in search — focuses on deals Google makes with platforms and device-makers to be their default search engine.And the biggest one of those is the one Apple has with Google, where Google pays Apple tens of billions of dollars a year — <a target="_blank" href="https://www.businessinsider.com/google-apple-iphone-search-engine-safari-deal-20-billion-2022-2024-5">$20 billion in 2022 alone</a> — to have pole position on the iPhone.Judge Amit P. Mehta's ruling, which holds that those deals are inhibiting competition, doesn't include his remedy. And Google says it plans to appeal his decision regardless. But if the ruling is ultimately upheld, and requires Google to stop making exclusive search deals, then it could threaten what's become an incredibly lucrative revenue stream for Apple."As this process continues, we will remain focused on making products that people find helpful and easy to use," Kent Walker, Google's top lawyer and public policy executive, said in a statement. I've asked Apple for comment as well.Apple is so giant — it generated nearly $400 billion in revenue last year — that even a $20 billion deal may not seem like that much to the company. And that number likely won't go to zero. Whether Google gets replaced by a competitor like Bing, or if it keeps working with iPhone but under different terms, Apple will still likely be able to get very good money leasing out real estate on its phones.Still, <a target="_blank" href="https://www.businessinsider.com/apple-advertising-google-search-services-filings-2024-5">the existing Google deal is a key part of Apple's "services" business</a>. And as we've pointed out many times, growing its high-margin services revenue has become crucial for Apple as its core business — selling iPhones — slows down or even declines. <a target="_blank" href="https://www.businessinsider.com/apple-aapl-stock-quarterly-earnings-call-report-live-updates-2024-7#i-phone-sales-are-slowing-but-services-boomed">You can see it in the company's most recent quarter, where its hardware business increased by $1 billion — and services grew by $3 billion</a>.So anything that puts a dent in that story is a concern for Apple. You could see that live in real time on Monday afternoon, when Apple's share price, which was already reeling as part of the general tech sell-off, lurched downward again once Mehta's ruling went public. Now, the price has recovered, presumably because it's too early to tell what, exactly, this will mean for Apple. But it's certainly not nothing.

Why Apple could be a loser in Google's antitrust defeat

<ul class="summary-list"><li>A grocery magnate turned robotics leader has had $9 billion wiped off his net worth this year.</li><li>Rick Cohen ranks among the biggest wealth losers after a 41% drop in his personal fortune.</li></ul>A grocery tycoon turned robotics guru has had $9 billion wiped off his net worth after shares of his AI-powered company crashed, making him one of the world's biggest wealth losers this year.Rick Cohen, 72, is the owner and executive chairman of C&amp;S Wholesale Grocers, a food distributor founded by his grandfather. He's turned the family business into the eighth most-valuable private company in America with an estimated value of $35 billion, per Forbes.Cohen is also the founder and CEO of Symbotic, which makes AI-enabled warehouse robots for customers including <a target="_blank" class="" href="https://www.businessinsider.com/walton-family-sam-walmart-stock-billionaires-estate-planning-inheritance-wealth-2024-8">Walmart</a>, and went public via special-purpose acquisition vehicle in the summer of 2022.He was worth $21.4 billion at the start of January. That would put Cohen in 94th spot on the Bloomberg Billionaires Index all else being equal.However, his wealth has plunged by 41% to $12.6 billion this year, pushing him down to 178th place. Only six people on Bloomberg's 500-strong list have suffered bigger hits to their wealth this year, and none rank lower than 77th on the index.They include the world's third-richest person, LVMH CEO <a target="_blank" class="" href="https://www.businessinsider.com/who-is-bernard-arnault-owner-louis-vuitton-lvmh-net-worth">Bernard Arnault</a> (down $10.5 billion), L'Oréal heiress <a target="_blank" class="" href="https://www.businessinsider.com/meet-richest-woman-world-francoise-bettencourt-meyers-loreal-2023-9">Françoise Bettencourt Meyers</a> (down $9.2 billion), and Arnault's archrival, Kering founder <a target="_blank" class="" href="https://www.businessinsider.com/francois-henri-pinault-bio-salma-hayek-kering-gucci-balenciaga-2023-3">François Pinault</a> (down $10.4 billion).It's striking that Cohen has seen a steeper wealth drop than all but a handful of the uber-rich, three of whom are in the top 20 and all of whom have far more money to spare.Cohen's wealth has tanked because the value of his family's roughly 70% stake in Symbotic has plummeted. The stock more than quadrupled last year, from about $12 to more than $50, on the back of the <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/ai-stocks-hardware-vs-softare-tech-performace-nvidia-tsmc-broadcom-2024-6">artificial-intelligence boom</a>, and buzz over a contract to implement its robotics and software automation platform across all 42 of Walmart's regional distribution centers.Symbotic shares have crashed by more than 60% this year to below $20 at Friday's close, slashing the company's value to below $10 billion. The latest quarterly earnings revealed construction delays and implementation costs had squeezed profit margins, and spurred Cohen and his team to warn that fixing the issues might temporarily slow revenue growth.Symbotic is also facing a class-action lawsuit claiming it misled the market about its near-term growth prospects and downplayed the risks it faced.The clouded outlook likely explains why Symbotic is trading at a 17-month low, and why Cohen has suffered an extraordinary wealth wipeout this year.Symbotic and Cohen didn't immediately respond to requests for comment from Business Insider made outside normal working hours.

A grocery tycoon turned Walmart robotics supplier is one of this year's biggest wealth losers after $9 billion wipeout

<ul class="summary-list"><li>The S&amp;P 500 communications services sector has started 2023 as the top-performing group on the broad index. </li><li>The sector that's home to Meta, Netflix and Match has picked up 12% after sliding 40% last year. </li></ul>The communications services group has emerged as the S&amp;P 500's best-performing sector in early 2023, highlighting the shift in market leadership after stocks sank into a bear market last year. The <a href="https://www.barchart.com/stocks/indices/sp-sector/telecom-services?viewName=performance" target="_blank" rel="noopener">S&amp;P 500 communications services sector</a> has gained more than 12% since trading in the new year began. Most of the group's constituents have been rebounding. Early winners include <a href="https://markets.businessinsider.com/stocks/wbd-stock">Warner Bros Discovery</a> and <a href="https://markets.businessinsider.com/stocks/nflx-stock">Netflix</a> as shares have soared by 50% and 23%, respectively. The upswing in the sector that hosts communication and media companies arrived after it sank 40.4% in 2022. It was the worst performer of the S&amp;P 500's 11 groups last year. Investors have been bargain-hunting after the sector was hammered down by a mix of macroeconomic headwinds and company-specific issues. The prospect of high inflation hurting consumer spending contributed to stock losses last year for Netflix and <a href="https://markets.businessinsider.com/news/mtch">Match</a>. The parent of Tinder and other dating sites tumbled 69% in 2022 but it has picked up 23% in 2023. And Facebook parent <a href="https://markets.businessinsider.com/stocks/meta-stock">Meta</a> has jumped 18% after losing more than 60% last year. Meta and Match were among the top 10 biggest losers on the S&amp;P 500 in 2022.The rotation in market leadership is also on display in the consumer discretionary, information technology, and real estate sectors, among others. Gains in 2023 for those groups range between 9% and nearly 7%. By contrast, the S&amp;P 500 consumer dictionary sector fell 37.6% last year, the second-worst performance on the broad index. "While much of the communication services sector has experienced gains in 2023, the three-week rally has done little to remedy substantial market capitalization losses since the end of 2021," S&amp;P Global Market Intelligence said Tuesday. The group's five largest companies have lost about $1.4 trillion in market cap since the end of 2021, it said.

The stock sector that was 2022's biggest loser is the top gainer in 2023 as market leadership gets shaken up

As the AI tsunami sweeps across the white-collar working world and fundamentally disrupts <a href="https://www.businessinsider.com/ai-radically-reshape-job-market-global-economy-employee-labor-innovation-2023-8">hundreds of millions of jobs</a>, nearly 1 billion knowledge workers worldwide will be affected, and 14 million jobs will be wiped out. Disruption from artificial intelligence is just one of the major structural shifts that will define the American economy over the next few decades. But while white-collar professionals stare down a turbulent job market and declining wages, a large, unexpected segment of the workforce may be safely on high ground: blue-collar jobs. The likes of skilled trades, intensive manual labor, and jobs that require a combination of physical, knowledge, and social work will not be upended. In fact, as other long-term trends take hold, many of these working-class roles are poised for a job explosion.As older Americans <a href="https://www.businessinsider.com/baby-boomer-retirement-surge-spark-forever-labor-shortage-jobs-workers-2023-5">retire</a> in massive numbers and leave behind open jobs, and as demand for healthcare, green energy, high-tech manufacturing, and construction increases, blue-collar jobs are going to see a substantial boom. ChatGPT will not replace the nurse who tends to you at the hospital or the construction worker who remodels your kitchen. The winners of the AI revolution will be the technicians, nurses, and plumbers who keep the new economy running after the machines have taken over the office.<h2>The new economy could be a boon for the working class </h2>Describing the nature of factory work in the '90s, the American poet Philip Levine wrote, "We stand in the rain / in a long line waiting at Ford Highland Park. For work. / You know what work is." At the time, factory jobs in the Rust Belt had dwindled, job-seeking became undignified, and the nature of work grew monotonous and alienating. <a href="https://www.oecd.org/unitedstates/us-manufacturing-decline-and-the-rise-of-new-production-innovation-paradigms.htm" target="_blank" rel="noopener">The decline of manufacturing sped up</a> precipitously in the early 2000s as globalization pushed jobs overseas, low-skilled work was automated away, and the economy shifted toward desk jobs with the advent of the internet. Today, there's a hopeful reversal for American blue-collar jobs. While cognitive workers fight over rapidly disappearing <a href="https://www.businessinsider.com/remote-wfh-jobs-application-odds-tech-market-rto-2023-9">remote jobs</a>, industries such as <a href="https://www.businessinsider.com/semiconductor-certification-program-chipmaker-manufacturing-jobs-new-career-intel-tsmc-2023-8#:~:text=Programs%20like%20the%20one%20enrolled,to%20be%20delayed%20until%202025.">semiconductor manufacturing</a> have the opposite problem — too many jobs to fill. And that's true across working-class industries. Two years of a historically tight labor market and low unemployment have pushed wages up for lower- and middle-income workers, stimulating a working-class job boom that has seen <a href="https://www.bls.gov/jlt/" target="_blank" rel="noopener">9.6 million job openings</a> nationwide and <a href="https://twitter.com/arindube/status/1715101591995371585?s=46&amp;t=2AJsaTiROqndjHD0Z5WOlw" target="_blank" rel="noopener">what economists are calling "full employment."</a> Over the next decade, <a href="https://www.bls.gov/news.release/pdf/ecopro.pdf" target="_blank" rel="noopener">the US Bureau of Labor Statistics</a> forecasts that the fastest-growing occupations will be in healthcare, transportation, renewable energy, and high-tech manufacturing.Nearly half of all job gains will come from the healthcare and social-support sectors. By 2032, one out of six new workers will be a home-health or personal-care aide. Construction, which has <a href="https://finance.yahoo.com/news/construction-job-market-is-red-hot-amid-persistent-inventory-shortages-184303806.html" target="_blank" rel="noopener">added 15,000 jobs a month over the past year</a>, also has room to keep expanding.While manufacturing jobs as a whole are expected to stay flat, spending in this industry has boomed to <a href="https://fred.stlouisfed.org/series/TLMFGCONS" target="_blank" rel="noopener">$200 billion</a> each year, tripling in the past five years. And certain sectors are expected to grow: The electrical-equipment and semiconductor industry is projected to reach <a href="https://www.bls.gov/news.release/pdf/ecopro.pdf" target="_blank" rel="noopener">3% annual growth over the next decade</a>. Chip manufacturing will continue to be a national priority, and that means a lot of well-paid jobs that require only a high-school education. "There's going to be significant demand in manufacturing for the sorts of non-BA technician jobs," Mark Muro, an expert on technology and workforce development and a policy director at the Brookings Institution, told me. Within chip manufacturing, <a href="https://www.brookings.edu/articles/with-high-tech-manufacturing-plants-promising-good-jobs-in-ohio-workforce-developers-race-to-get-ready/" target="_blank" rel="noopener">roughly 50% of entry-level workers</a> have only a high-school or equivalent education level, compared with 38% for all other industries. Over the next 10 years, as the global semiconductor industry is <a href="https://www.mckinsey.com/industries/semiconductors/our-insights/the-semiconductor-decade-a-trillion-dollar-industry" target="_blank" rel="noopener">primed to reach $1 trillion</a>, another 50,000 American jobs will be added for roles such as electrical assemblers and industrial technicians.While not all working-class jobs will be safe from automation — retail workers, for instance, do not have a rosy outlook — there has been improvement across the board for lower-income workers. The initial shock of the pandemic hit low-wage workers the hardest, but the recovery since has been more auspicious. Wages have grown <a href="https://www.epi.org/publication/swa-wages-2022/" target="_blank" rel="noopener">nearly three times as fast as in any other </a>recovery period. <a href="https://www.politico.com/news/2023/05/29/low-income-wages-employment-00097135" target="_blank" rel="noopener">The wages of the lowest 10th percentile of the workforce</a> — earning an average of $12.50 an hour — grew only 3.9% from 2009 to 2017. But from March 2020 to March 2022, wages grew by 5.7%. Despite inflation, real wages are higher for blue-collar, nonmanagerial, and lower- and middle-wage workers than they were before the pandemic.Other economic barometers also show steady improvements that are likely to continue. Over the past decade, the <a href="https://www.census.gov/library/publications/2023/demo/p60-280.html#:~:text=Highlights-,Official%20Poverty%20Measure,and%20Table%20A%2D1)." target="_blank" rel="noopener">poverty rate</a> in America has fallen from 14.8% to 11.5%. The net worth of the average household in the bottom 50% of Americans is <a href="https://fred.stlouisfed.org/graph/?graph_id=1101676" target="_blank" rel="noopener">up more than 45%</a> from before the pandemic. If a recession is averted, the continuation of a tight labor market will continue to drive wages up, further reduce the poverty rate, and boost household income and net worth. Adding to the tailwinds is AI's adoption, which is likely to augment these jobs, leading to higher productivity growth over the coming decade. Increased labor productivity in the construction industry would be a boon for economic growth since housing scarcity remains one of the most pressing issues for Americans. <h2>Who's safe from AI?</h2>In the <a href="https://www3.weforum.org/docs/WEF_Jobs_of_Tomorrow_Generative_AI_2023.pdf" target="_blank" rel="noopener">World Economic Forum's recent joint report</a> with Accenture, 19,000 individual tasks across nearly 900 occupations were analyzed for how much they could be affected by AI. The findings were pretty straightforward: Jobs with a high degree of personal interaction and nonroutine physical tasks faced the least amount of disruption from AI. Other recent projections by the Bureau of Labor Statistics and McKinsey have come to similar conclusions."What characterizes the physical labor jobs that are safe for the next five or 10 years are things that are in an unpredictable physical environment," Kweilin Ellingrud, a McKinsey Global Institute director, told me. "If it's in a predictable physical environment, and it's repetitive, then either a robot — likely even before generative AI — or some sort of generative AI can create the automation to do that well."One influential explanation for this is <a href="https://ide.mit.edu/wp-content/uploads/2019/08/Identifying-the-Multiple-Skills-in-SBTC-8-2-19.pdf" target="_blank" rel="noopener">known as skill-biased technological change</a>, a theory that says routine roles that are susceptible to automation and computerization will see declining wages, while nonroutine roles that require dexterity or human interaction will see increased demand and wages. That's what recent research has found: Jobs such as air-conditioning installer, teacher, and hairdresser — jobs that are not routine — will be relatively unscathed over the next five to 10 years. Research led by <a href="https://www.nytimes.com/2023/08/24/upshot/artificial-intelligence-jobs.html" target="_blank" rel="noopener">OpenAI</a> found that 4% of workers, including painters, carpenters, and roofers, had zero tasks that could be influenced by AI. And even though technology could infiltrate more of these roles, they fundamentally cannot be replaced by machines. Ellingrud said, "Even though we have Roombas, we still have house cleaners because the Roomba can only do so much and isn't all that effective." Instead of replacing these jobs, AI will likely benefit specific roles by making it easier to do the most routine parts of the job. Nurses, for example, could spend less time collecting and entering information into a medical-record system. For an industry notorious for high hourly billing rates, <a href="https://www.mckinsey.com/featured-insights/mckinsey-explainers/whats-the-future-of-generative-ai-an-early-view-in-15-charts" target="_blank" rel="noopener">allowing nurses to redeploy their time</a> on more critical tasks — such as taking care of patients — would save Americans billions in annual healthcare costs. Similarly, the construction industry could benefit from new technology such as AI drones to do inspections or AI sensors that measure things, freeing up workers to do more."You may get a bifurcation within these groups where the hands-on physical work remains, but generative AI picks up and substitutes for a lot of the management supervising," Muro told me. He added: "There are these jobs that are in a middle ground where the physical work may remain but the supervision might be more exposed." But instead of replacing workers, this kind of integration could help these types of roles be more productive, have more demand, and earn more money. <h2>Safe ground</h2>Blue-collar jobs are not only safe from AI's impact but also physically safer with the tech. AI's adoption in the workplace can help improve safety via real-time monitoring of risks and alerts for equipment issues or injuries. <a href="https://www.bls.gov/opub/ted/2023/a-look-at-workplace-deaths-and-nonfatal-injuries-and-illnesses-for-workers-memorial-day.htm" target="_blank" rel="noopener">Each year in the US, there are 2.7 million workplace injuries</a> and over 5,000 deaths as a result of workplace accidents, so any improvements would be significant. Though many of these working-class jobs may be physically or emotionally laborious, they are durable for the future. Broadly speaking, the jobs that will come out on top of the AI shuffle are <a href="https://www.aspeninstitute.org/wp-content/uploads/2016/04/Restore-the-Promise-of-Work-The-Aspen-Institute-2016.pdf" target="_blank" rel="noopener">good-quality jobs</a> that provide steady work hours, upward mobility, and career support, as well as "fair compensation and a degree of voice," Muro said. As the economy gets increasingly precarious because of AI, the winners of this AI revolution will not need to swim a technological triathlon against oncoming waves — they will already be on elevated terrain, safely and skillfully working away.<a href="https://www.businessinsider.com/author/emil-skandul" rel="">Emil Skandul</a> is a writer on technology and urban economics, and a Tony Blair Institute fellow.

The biggest winners &mdash; and losers &mdash; in the coming AI job apocalypse

<ul class="summary-list"><li>The S&amp;P 500 returned 7.5% in the first quarter of 2023 as bank turmoil rocked financial markets. </li><li>Nvidia, Meta, and Tesla led the way as top gainers of the quarter, while financial names lagged.</li></ul>The <a href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a> gained 7.5% in the first three months of 2023, defying <a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-economy-winning-quarter-fed-rate-hikes-2023-3">March's bank turmoil</a> sparked by the collapse of Silicon Valley Bank.It marked a second consecutive quarter of gains, with the index rising 7.6% in the fourth quarter of 2022. The stock market's strong outing came alongside more interest rate volatility as the Federal Reserve weighed whether to prioritize fighting inflation or avoiding exacerbating the effects of the bank crisis on the economy. Stocks rallied broadly though as traders increasingly placed bets that the central bank would conclude its rate hike campaign and even begin cutting rates as early as mid year. The <a href="https://markets.businessinsider.com/index/nasdaq_100?utm_medium=ingest&amp;utm_source=markets">Nasdaq 100</a> entered a <a href="https://markets.businessinsider.com/news/stocks/nasdaq-bull-market-tech-stocks-fed-policy-svb-bank-crisis-2023-3?utm_medium=ingest&amp;utm_source=markets">new bull market</a> in the last week of the quarter, closing 20% higher than its December low.Looking ahead, a strong showing during earnings season could bode well for stocks as bears throw in the towel, according to Fundstrat's Tom Lee, <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-bull-market-inflation-corporate-earnings-rally-fundstrat-2023-4">who sees the S&amp;P 500 rising 20% in 2023</a>.However, to JPMorgan strategists, the <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-strategy-analysis-banking-crisis-jpmorgan-marko-kolanovic-2023-4">latest rally in the stock market "makes little sense,"</a> as the Fed itself hasn't yet signaled its preparing to cut rates. Here are the top 10 winners and losers in the S&amp;P 500 in the first quarter. <h3>Biggest winners of the first quarter</h3>1. <a href="https://markets.businessinsider.com/stocks/nvda-stock">Nvidia</a><div type="image" title="Jensen Huang Nvidia CEO" height="2250" width="4500" msid="99276516" hostid="261"></div>First quarter return: 90%2. <a href="https://markets.businessinsider.com/stocks/meta-stock">Meta Platforms</a><div type="image" title="Mark Zuckerberg announcing the new name of the company and Meta logo are seen during Facebook Connect livestream displayed on a laptop screen" height="512" width="1024" msid="99276520" hostid="261"></div>First quarter return: 76%3. <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a><div type="image" title="A Tesla Model 3 charges at a Supercharger." height="1500" width="3000" msid="99276522" hostid="261"></div>First quarter return: 68%4. <a href="https://markets.businessinsider.com/stocks/wbd-stock?miRedirects=1">Warner Bros Discovery</a><div type="image" title="David Zaslav speaks in front of Warner Bros. Discovery logo on blue drape" height="1966" width="3932" msid="99276525" hostid="261"></div>First quarter return: 59% 5. <a href="https://markets.businessinsider.com/stocks/algn-stock">Align Technology</a> <div type="image" title="woman getting invisalign" height="999" width="1999" msid="99276528" hostid="261"></div>First quarter return: 58% 6. <a href="https://markets.businessinsider.com/stocks/amd-stock">Advanced Micro Devices</a><div type="image" title="AMD" height="1100" width="2200" msid="99276531" hostid="261"></div>First quarter return: 51%7. <a href="https://markets.businessinsider.com/stocks/crm-stock">Salesforce</a><div type="image" title="Marc Benioff, founder, chairman and co-CEO of Salesforce, speaks at an Economic Club of Washington luncheon in Washington, DC, on October 18, 2019" height="2288" width="4577" msid="99276533" hostid="261"></div>First quarter return: 51%8. <a href="https://markets.businessinsider.com/stocks/wst-stock?miRedirects=1">West Pharmaceutical Services</a><div type="image" title="Microscope" height="1250" width="2500" msid="99276534" hostid="261"></div>First quarter return: 47% 9. <a href="https://markets.businessinsider.com/stocks/ge-stock">General Electric</a><div type="image" title="General Electric Co. logo on a building" height="1000" width="2000" msid="99276535" hostid="261"></div> First quarter return: 46% 10. <a href="https://markets.businessinsider.com/stocks/ctlt-stock">Catalent</a><div type="image" title="microscope slides" height="3008" width="6016" msid="99276537" hostid="261"></div>First quarter return: 46% <h3>Biggest losers of the first quarter</h3>1. <a href="https://markets.businessinsider.com/stocks/frc-stock">First Republic Bank</a>First quarter return: -88%2. <a href="https://markets.businessinsider.com/stocks/zion-stock">Zions Bancorp</a>First quarter return: -39%3. <a href="https://markets.businessinsider.com/stocks/schw-stock">Charles Schwab</a>First quarter return: -37%4. <a href="https://markets.businessinsider.com/stocks/cma-stock">Comerica Inc.</a> First quarter return: -34%5.<a href="https://markets.businessinsider.com/stocks/dish-stock">DISH Network Corp.</a>First quarter return: -34%6. <a href="https://markets.businessinsider.com/stocks/key-stock">KeyCorp.</a>First quarter return: -27%7. <a href="https://markets.businessinsider.com/stocks/lnc-stock">Lincoln National Corp</a>.First quarter return:-26%8. <a href="https://markets.businessinsider.com/stocks/cnc-stock">Centene Corp</a>.First quarter return:-23%9. <a href="https://markets.businessinsider.com/stocks/ci-stock">Cigna Group</a>First quarter return:-23%10. <a href="https://markets.businessinsider.com/stocks/apa-stock">APA Corp</a>.First quarter return: -22%

These were top 10 biggest winners and losers in the S&P 500 in the first quarter

<ul class="summary-list"><li>US household <keyword id="11921347" type="UNKNOWN" weightage="60" keywordseo="wealth" source="Orion">wealth</keyword> has fallen by at least $5 trillion this year, per JPMorgan Chase.</li><li><keyword id="11940268" type="UNKNOWN" weightage="60" keywordseo="billionaires" source="Orion">Billionaires</keyword> are the biggest losers: Their collective wealth has crashed by $800 billion since November.</li></ul>US household wealth has fallen between $5 trillion and $8 trillion so far this year amid an intense market selloff, according to JPMorgan Chase.The wealth wipeout comes on the back of heavy losses in equities. The S&amp;P 500 is down about 20% year-to-date and the Nasdaq 100 is down about 30% in the same period. Meanwhile, a <a href="https://www.bloomberg.com/quote/BGCI:IND">Bloomberg index of cryptocurrencies</a> is down about 50% so far this year.US billionaires are the biggest losers in the market rout, as their collective wealth crashed almost $800 billion since its peak in November, <a href="https://www.bloomberg.com/news/articles/2022-05-21/a-5-trillion-wealth-shock-is-cracking-americans-nest-eggs">Bloomberg</a> estimated.Still, overall losses in household net worth will translate into "a wealth shock that is set to drag on growth in the coming year," wrote JPMorgan Chase economists in a note on Friday. That's as consumer spending typically falls by two cents a year with every dollar decline in financial wealth, estimates JPMorgan.Household wealth could fall further through the second half of 2022 to hit $9 trillion in total losses, the JPMorgan Chase economists estimated in the note seen by Insider.Among American billionaires, the biggest loser so far is <a href="https://www.businessinsider.com/elon-musk-lost-10-billion-after-sexual-misconduct-claim-2022-5">Elon Musk,</a> who has lost about 40% of his wealth since its peak in November when his net worth briefly topped $340 billion, according to the <a href="https://www.bloomberg.com/billionaires/">Bloomberg Billionaires Index.</a> Most of Musk's wealth is held in Tesla shares, which are down about 45% year to date. He's currently worth about $201 billion, per Bloomberg.Jeff Bezos — the world's second-richest person — has lost about 40% of his net worth since its peak last year. Bezos is now worth about $131 billion, according to Bloomberg. Amazon shares are down about 37% year to date.American households and nonprofits held about $170 trillion at the end of 2021, according to the <a href="https://www.federalreserve.gov/releases/z1/dataviz/z1/balance_sheet/chart/">Federal Reserve.</a> More than half the amount is held in real estate and equities.

Americans' net worth has plunged in 2022 — and billionaires are the biggest losers

<ul class="summary-list"><li>The 2022 <keyword id="11953261" type="UNKNOWN" weightage="60" keywordseo="f1" source="Orion">F1</keyword> season is halfway through its schedule after 11 rounds.</li><li><keyword id="11953263" type="UNKNOWN" weightage="60" keywordseo="max-verstappen" source="Orion">Max Verstappen</keyword> and Red Bull hold the lead in the championship chases, but there are a lot of races left.</li></ul>We are halfway through the 2022 Formula One season, which has already been filled with drama and surprises.Max Verstappen is a heavy favorite to defend his driver championship, and Red Bull is in a solid position to win its first constructors championship since 2013, ending Mercedes' eight-year run on top. However, they are not alone among the winners, as there have been several strong performances and surprising results among the rest of the teams and drivers. At the other end of the spectrum, several drivers and teams have been disappointing early in the season. Let's take a look.<h2>The winners</h2><div type="image" title="Max Verstappen" height="1667" width="2500" msid="92988158" hostid="261" sizebytes="969748"></div>Max Verstappen and Red Bull — After the second race of the season in Saudi Arabia, Red Bull team principal Christian Horner said he would "rather fix a fast car than try and make a reliable, slow one fast," and they have done just that. After a slow start that saw Verstappen fail to finish two of the first three races, he and Red Bull have found their form. Verstappen has won five of the eight races since and finished on the podium two other times. His lead in the driver standings is now 38 points over Ferrari's <keyword id="11975653" type="UNKNOWN" weightage="60" keywordseo="charles-leclerc" source="Orion">Charles Leclerc</keyword>.Meanwhile, Red Bull's other driver, Sergio Perez, has also proven to be championship-caliber. He has one win and five P2s, and the team has seemingly overcome <a href="https://www.insider.com/red-bull-f1-championship-leaders-sergio-perez-not-happy-2022-5">the team game in Spain that left Perez upset over being ordered to stand back</a> as Verstappen won the race. Charles Leclerc — After finishing seventh in the driver standings last season, Leclerc has proven he can be a legit title contender with three wins and two other podiums in the first 11 races.He has been the fastest driver this season but has been undone by inconsistency and questionable decisions by Ferrari. His latest win in Austria shows that Verstappen doesn't have the title wrapped up yet, but a lot depends on his team getting its act together.<div type="image" title="Charles Leclerc, Sergio Perez, and George Russell" height="1669" width="2500" msid="92988160" hostid="261" sizebytes="605894"></div>George Russell — Mercedes has clearly been grooming Russell to be <keyword id="11953262" type="UNKNOWN" weightage="60" keywordseo="lewis-hamilton" source="Orion">Lewis Hamilton</keyword>'s heir apparent this year. However, as F1's most consistent driver this season, Russell is already ahead of his teammate in the standings and just behind Ferrari's Carlos Sainz.Russell has finished in the top five of 10 of the first 11 races, despite Mercedes' struggles with the new cars. The team has made significant strides in recent rounds, and if they can find a little more, Russell will jump up into the Verstappen-Leclerc territory and start challenging for wins.Haas — The team lost a driver and a lot of money just before the start of the season when they cut ties with Russian driver Nikita Mazepin and his oligarch father's company, which was their top sponsor. However, it was a blessing, as <a href="https://www.insider.com/kevin-magnussen-wife-f1-haas-guenther-steiner-2022-4">he was replaced by Kevin Magnussen</a>, who has had a strong season <a href="https://www.insider.com/kevin-magnussen-f1-return-haas-2022-7">despite not having any off-season F1 training</a>. One year after Haas had more retirements (8) than top-15 finishes (5) and points (0), Magnussen is 11th in the standings, and the team is seventh. And the team even appears to be taking another step up. After Mick Schumacher failed to score a point in the first nine races, he and K-Mag have both been in the points in the last two races. <div type="image" title="Mick Schumacher and Kevin Magnussen" height="1052" width="1822" msid="92988162" hostid="261" sizebytes="128192"></div>Zhou Gyuanyu — It might seem strange that a driver 17th in the standings with just five points would be a "winner." However, he has been much better than his record would indicate. Zhou has only scored points in two races, but his total would likely be much more if not for four retirements, several of which were for mechanical problems out of his control. More importantly, Zhou came out of a <a href="https://www.insider.com/british-grand-prix-wreck-zhou-guanyu-f1-2022-7">terrifying crash</a> at Silverstone essentially unscathed, which is as big a win as they come.<h2>The losers</h2><div type="image" title="Mattia Binotto" height="1666" width="2500" msid="92988164" hostid="261" sizebytes="125618"></div>Ferrari — Despite being in the race for the driver and constructor championships, Ferrari's season still feels disappointing. Despite winning the pole in seven races this season, the team has only converted that into four wins. While Ferrari had the fastest cars to start the season, they have been plagued by mechanical problems, with six retirements and <a href="https://www.insider.com/charles-leclerc-ferraris-f1-championship-hopes-face-a-new-challenge-2022-6">Leclerc being forced to take a grid penalty earlier than most teams</a>. In addition, the team has made several questionable decisions that have cost them. The most notable was in Monaco, where poor strategy cost the Scuderia the win. Mercedes and Lewis Hamilton — Most teams and drivers have <a href="https://www.insider.com/f1-porpoising-alphatauri-franz-tost-drivers-should-go-home-2022-6">struggled with "porpoising" this season</a>, but none more than Mercedes and Hamilton. Things got so bad, and Hamilton sounded so dismal that it led to early season speculation that he would retire from the sport entirely.While they have seemingly fixed their bouncing problem in recent races, and Hamilton has finished on the podium in the last three, they are still behind Red Bull and Ferrari. Not good for a team that has won eight straight constructor titles. <div type="image" title="Lewis Hamilton" height="423" width="657" msid="92988166" hostid="261" sizebytes="18954"></div><keyword id="12086558" type="UNKNOWN" weightage="60" keywordseo="daniel-ricciardo" source="Orion">Daniel Ricciardo</keyword> — Things have gotten so bad for Danny Ricc that everybody already assumes he will be replaced at McLaren; it is just a question of when. While he has a contract for 2023, young drivers like Colton Herta, Alex Palou, and Pato O'Ward have all been linked to his seat.Williams — Williams has not only been the slowest cars all season, but the team has also failed to show any improvement. Their 0.05 seconds gained in the first 10 races was only better than Alfa Romeo (+0.22s), who has actually gone backward, and well behind Aston Martin (-0.75s), who was at the back of the pack with Williams to start the season. The team has begun upgrading their cars, but it hasn't translated on the track yet.<div type="image" title="F1 graphic" height="507" width="864" msid="92988168" hostid="261" sizebytes="44376"></div>Pierre Gasly — After finishing ninth in the standings in 2021 with nine top-6 finishes on Red Bull's B-team, Gasly has seemingly taken a step backward this season. At midseason, he is 13th with three retirements and just one finish better than eighth (P5 in Azerbaijan). In addition, while it seemed like he was destined for a move up in 2023 to another team, he is now staying with AlphaTauri for at least one more season.

The biggest winners and losers from the first half of F1's 2022 season

<ul class="summary-list"><li>The first round of the <keyword id="11897660" type="UNKNOWN" weightage="60" keywordseo="nfl" source="Orion">NFL</keyword> Draft kicked off in Las Vegas on Thursday night.</li><li>The New York Jets and Giants both crushed their first-round picks, setting themselves up for potential future success.</li></ul>LAS VEGAS — Just after 5 p.m. on Thursday NFL Commissioner Roger Goodell stepped out on stage in Las Vegas, Nevada to the boos of thousands of football fans.And with that, the 2022 NFL Draft officially began. Four hours, 32 picks, and several eye-popping trades later, Round 1 came to a close, with some teams, players, and characters coming out on top and others wishing the day had gone differently.Take a look below at the 11 winners and losers of the first round.<h2>WINNER: Travon Walker</h2>The Georgia Bulldogs edge rusher was a late-riser up draft boards after a brillaint performance at the combine.In the weeks leading up to the draft, Michigan edge rusher Aidan Hutchinson had largely been projected to go first overall to the Jaguars, but at some point in the past few days the tides shifted.Ladies and gentlemen, <a href="https://www.insider.com/nfl-draft-first-pick-jaguars-travon-walker-2022-4" target="_blank" rel="noopener">your first overall pick of the 2022 NFL Draft, Travon Walker</a>.While other top edge talents like Hutchinson and Kayvon Thibodeaux might have put up better numbers than Walker in college, the upside Walker presented was too much for the Jaguars to pass up.It's <a href="https://www.insider.com/nfl-draft-first-pick-jaguars-travon-walker-2022-4" target="_blank" rel="noopener">a home run swing</a>, and after a 3-14 campaign in 2021 with a defense that gave up more points than all but four teams in the NFL, the Jaguars are a team in need of a dinger. Regardless of whether or not it works out for the Jaguars, it's a boon for Walker, who goes down as the first defensive player taken No. 1 since Myles Garrett in 2017.<h2>WINNER: Hometown heroes</h2>After the Jaguars took Walker first overall, the door was open for the Detroit Lions to draft standout Michigan edge rusher Aidan Hutchinson.Hutchinson broke the Wolverines' single-season sack record last year, and now will get to continue playing close to home as he begins his NFL career.<div type="image" title="Aidan Hutchinson poses after being drafted by the Detroit Lions." height="1600" width="2133" msid="91188618" hostid="261"></div>"I think it would be cool to stay around Michigan and be close to my family," <a href="https://www.insider.com/aidan-hutchinson-ready-to-learn-nfl-draft-jaguars-lions-2022-4" target="_blank" rel="noopener">Hutchinson told Insider earlier in the week</a> when asked of the prospect of getting drafted by the Lions. "I'm sure it'd make the transition to the NFL easier. I think there's a lot of positives either way."Hutchinson isn't the only potential superstar that will get to stay close to home.North Carolina State offensive tackle Ikem Ekwonu was taken by the Carolina Panthers with the sixth overall pick, and Pitt quarterback Kenny Pickett was taken by the Pittsburgh Steelers at No. 20.With a large contingency of Steelers fans in attendance in Vegas, Pickett's selection earned one of the loudest reactions of the night.<h2>WINNER: Somehow, both the New York Giants and New York Jets</h2>With four top-10 picks between them, there was a lot of potential for the New York football collective to mess things up pretty bad at the 2022 NFL Draft. Instead, both teams, somewhat shockingly, crushed it.For the Giants, finding a quality edge rusher and offensive tackle were both top priorities. When they were set to make their first pick of the night, at No. 5, one elite edge prospect (Kayvon Thibodeaux) and two elite tackle prospects (Ikem Ekwonu, Evan Neal) were left on the board.Since the Giants were also picking at No. 7, New York smartly played their hand, selecting Thibodeaux fifth overall, knowing that regardless of who the Panthers took at No. 6, one of the best tackles in the draft would still be there at No. 7. Carolina went with Ekwonu, leaving the Giants to take Neal, who might have been the highest-rated tackle on their board anyway.Largely, the Giants' success was a result of not overthinking their picks, but credit where it's due, that's a hell of a duo to start the new season with.Similarly, the New York Jets found great value in both of their top-10 picks. The Jets were able to grab possibly the best cornerback to come out of this draft class in Cincinnati's Ahmad "Sauce" Gardner, at No. 4, and followed that up by taking a player that could possibly be the best receiver to come out of this draft class in Ohio State's Garrett Wilson, at No. 10.<div type="image" title="Jermaine Johnson celebrates his selection in the 2022 NFL Draft with a group of Jets fans." height="1600" width="2133" msid="91188620" hostid="261"></div>But the Jets' success didn't stop there. As Florida State edge rusher Jermaine Johnson began to fall past where many had him projected, New York found a trade partner in the Tennessee Titans and were able to move back into the first round to snag Johnson at No. 26.Heading into the draft, the Jets needed help all across the roster. In one night, they found players that could prove to be foundational pieces at three key positions for years to come.<h2>WINNER: Howie Roseman</h2>It's hard to imagine anyone having a better night than the young players drafted on Thursday, but if anyone did, it was Eagles general manager Howie Roseman.Heading into the draft, Philadelphia was armed with two first-round picks, one of which had already been swapped with New Orleans ahead of Thursday.With his first move, Roseman traded up from No. 15 to No. 13 to pick Georgia defensive tackle Jordan Davis. Not only is Davis a dynamic run-stuffer already, he will also get a year to learn the craft from Eagles veteran Fletcher Cox before eventually stepping into his sizeable cleats as the anchor of the team's defensive front.But Roseman's biggest move of the night came next, as the Eagles flipped the No. 18 pick to the Tennessee Titans along with a third-rounder in exchange for star wide receiver A.J. Brown.As the 18th pick was approaching, many of the top receiving prospects were already off the board. Rather than draft yet another wide receiver that might not work out — it's a position the Eagles have struggled to draft with the exception of DeVonta Smith last year — Roseman instead negotiated a deal for a receiver everyone already knows can dominate in the NFL.It was a deal that shocked Eagles center Jason Kelce live on air."Howie Roseman is working that Howie Roseman magic," Kelce said. "He's moving up in the draft to get Jordan Davis, and now he's trading to get an unbelievable receiver. This is like Christmas right now."Howie is a man on a mission right now, man. He's making things happen, and I'm a big fan."<h2>LOSER: Arizona Cardinals</h2>The Cardinals also made a deal for a wide receiver, trading the No. 23 pick away to the Baltimore Ravens in exchange for Marquise "Hollywood" Brown.On another day, the Cardinals' deal for Brown might have raised a few eyebrows and little else, but with the immediate comparison to the deal the Eagles pulled off with the Titans, Hollywood's move to Arizona suddenly looks less appealing.To be sure, this is a trade that could still work out fantastically for the Cardinals. Brown is a dynamic player and is being reunited with his college quarterback, Kyler Murray. The two are certainly capable of making sparks fly.Still, given the price the Eagles paid for A.J. Brown, it's a tough comparison.<h2>LOSER: Lamar Jackson</h2>The Hollywood Brown trade came as a shock to the entire NFL, but no one was more surprised than Ravens quarterback Lamar Jackson.It would be rather strange to learn that one of your friends is moving away by watching television, but there's a lot about the life of an NFL quarterback that is rather strange.<h2>WINNER: Wide receivers</h2>There was a ton of wide receiver talent up for grabs in Thursday's first round, and clearly front offices around the league were aware of it.From picks No. 8-18, a whopping six wide receivers were selected — Drake London to the Falcons (No. 7), Garrett Wilson to the Jets (No. 10), Chris Olave to the Saints (No. 11), Jameson Williams to the Lions (No. 12), Jahan Dotson to the Commanders (No. 16), and Treylon Burks (No. 18) to the Titans.Given the instant impact that the likes of Ja'Marr Chase and Justin Jefferson have had in their recent rookie seasons, expectations are high for this group. It's going to be fun to look back on this group in four or five years.<h2>LOSER: Aaron Rodgers</h2>Another year, another draft with the Green Bay Packers refusing to draft for Aaron Rodgers. Despite all of that receiving talent available this year, the Packers didn't make a move to get Rodgers another pair of trusted hands. Green Bay's refusal to give Rodgers another target is magnified by the recent departure of Davante Adams.With the Packers sitting out of the receiving pool through the first round, look for Green Bay to be major players in the potential market for 49ers wide receiver Deebo Samuel, who recently asked for a trade from San Francisco.<h2>WINNER: Georgia Bulldogs</h2>The 2021 Georgia Bulldogs defense was one of the greatest defenses in the history of college football.On Thursday, they cemented their claim further, breaking the NFL record for most defensive players taken in the first round from one school.The five Bulldogs that went off the board were: Travon Walker to the Lions (No. 1), Jordan Davis to the Eagles (No. 13), Quay Walker and Devonte Wyatt to the Packers (Nos. 22 and 28), and Lewis Cine to the Vikings (No. 32).Additionally, linebacker Nakobe Dean is still on the board, and could be taken with one of the first picks of the second round on Friday.<h2>WINNER: Trading up to get your guy</h2>Trades make the draft, and Thursday's first round was full of exciting moves. Further, there's something inherently nice about teams moving up to get their guy. Simply put, it's nice to be wanted.In their press conferences after getting drafted, several players, including Jordan Davis and Devin Lloyd, expressed appreciation for their teams' making the effort to trade up for them.Trades on draft day make the entire experience more exciting to watch and in some cases, leave players feeling warm and fuzzy inside. Feels like a win-win.<h2>WINNER: The Las Vegas Draft</h2>Heading to the NFL Draft in Las Vegas, I didn't know what to expect. Of all the things to turn into Coachella, "NFL teams hiring people," is about as strange a choice as you can make. And yet, the festival of football that the league has made of the modern draft sort of works.<div type="image" title="Fans attend the 2022 NFL Draft in Las Vegas." height="1600" width="2133" msid="91188622" hostid="261"></div>It's weird, to be sure, but against the backdrop of Las Vegas, it feels right in place. Being here, it's entirely clear why the NFL was eager to get a team in Vegas — this town knows how to host a big event, and the NFL loves to throw them.

NFL DRAFT 2022: 11 winners and losers from the first round of the draft

<ul class="summary-list"><li>Whoever wins the <keyword id="12003353" type="UNKNOWN" weightage="60" keywordseo="australian-open" source="Orion">Australian Open</keyword> Sunday, absent reigning champion <keyword id="11994967" type="UNKNOWN" weightage="60" keywordseo="novak-djokovic" source="Orion">Novak Djokovic</keyword> will be the loser.</li><li>If <keyword id="11927932" type="UNKNOWN" weightage="60" keywordseo="daniil-medvedev" source="Orion">Daniil Medvedev</keyword> wins, Djokovic will lose his status as world number one.</li></ul>After close to two weeks of pulsating <keyword id="11897437" type="UNKNOWN" weightage="60" keywordseo="tennis" source="Orion">tennis</keyword> in the Melbourne heat, the men's final for the Australian Open is set.Russian world number two and tournament favorite <a href="https://www.insider.com/category/daniil-medvedev">Daniil Medvedev</a> takes on 20-time Grand Slam winner <a href="https://www.insider.com/category/rafael-nadal">Rafael Nadal</a> Sunday at the Rod Laver Arena.Both men would be worthy winners.<a href="https://www.insider.com/video-daniil-medvedev-screams-at-umpire-for-45-seconds-straight-2022-1">Medvedev has battled through the tournament</a>, coming back from two sets down in his quarterfinal and proving why many consider him the best hard court player in tennis right now. <a href="https://www.insider.com/video-rafael-nadal-cries-into-bag-grand-slam-final-return-2022-1">Nadal's tournament has been one of resilience,</a> fighting to the final of an event most didn't even think he'd play.However, whoever wins, there will be one clear loser from the final: <a href="https://www.insider.com/category/novak-djokovic">Novak Djokovic.</a>Djokovic, of course, <a href="https://www.insider.com/novak-djokovic-australian-open-saga-shows-extent-desire-to-win-2022-1">didn't compete in this year's tournament after being deported from Australia on the eve of the tournament following a weeks-long battle surrounding his COVID vaccination status</a> and his eligibility to be in the country.Unable to defend his title, Djokovic now faces an unpalatable blow to his ambitions in 2022, regardless of who wins. That's because victory for either man will rob Djokovic of one of two key prizes in tennis.<h2>Djokovic could lose his place as tennis' best player to Medvedev</h2><div type="image" title="Daniil Medvedev (R) of Russia and Novak Djokovic (L) of Serbia talk at center court after Medvedev won their Men's Singles final match on Day Fourteen of the 2021 US Open at the USTA Billie Jean King National Tennis Center on September 12, 2021 in the Flushing neighborhood of the Queens borough of New York City." height="900" width="1800" msid="89201972" hostid="261"></div>Should Medvedev win and claim a second Grand Slam title on top of his 2021 US Open victory, he will almost certainly ascend to the top of the ATP world rankings, ousting Djokovic.The Serbian has been world number one since February 2020, and holds the record for the most overall weeks at the top, clocking 357 weeks as the best male tennis player on the planet during his career.<a href="https://www.atptour.com/en/rankings/singles?rankDate=2022-01-17&amp;rankRange=0-100">Djokovic is currently over 2,000 ranking points ahead of Medvedev,</a> but would see that gap completely extinguished should Medvedev best Nadal Sunday.For victory in the tournament, Medvedev would take home 2,000 ATP ranking points, bringing his cumulative total to just shy of the 11,000 Djokovic currently possesses.Rankings points are based on the previous 12 months, so come February 21 — the anniversary of Djokovic's 2021 Australian Open win — the Serbian will lose 2,000 points, while Medvedev, who lost in the 2021 final, will lose just 1,200 points.By that day, points adjustments from the previous 12 months will mean that — barring a surprise return to action for Djokovic before February 21 — Medvedev will take the number one spot with 9,235 points compared to Djokovic's 8,875, <a href="https://www.forbes.com/sites/adamzagoria/2022/01/28/daniil-medvedev-to-face-rafael-nadal-in-australian-open-final-can-jump-novak-djokovic-for-no-1-with-win/?sh=14c799806d1c">as first reported by Forbes' Adam Zagoria</a>, and later calculated by Insider.<h2>Nadal could beat Djokovic to becoming the most decorated man in Grand Slam history</h2><div type="image" title="Novak Djokovic of Serbia and Rafael Nadal of Spain after the ATP Cup Final that Serbia won in 3 sets on day 10 of the ATP Cup at Ken Rosewall Arena" height="1000" width="2000" msid="89201975" hostid="261"></div>The more straightforward negative scenario for Djokovic comes in the form of a Nadal win.Nadal, Djokovic, and Roger Federer all have 20 Grand Slam singles titles, six more than their nearest rival Pete Sampras on 14.With Federer aged 40 and struggling with recurring knee injuries, the battle for the title of most-decorated Grand Slam champion in men's history is now a straight shootout between Nadal and Djokovic.Djokovic is a year younger and generally considered to have greater physical longevity, but should Nadal win on Sunday, he'll move into the solo lead on overall Grand Slam victories.With the French Open next up — a tournament Nadal has won 13 times and will be favorite for in 2022 — the Spaniard will likely be on 22 majors before Djokovic even has a chance to win his next title at Wimbledon in July.Medvedev even alluded to this in his post-match interview after beating Stefanos Tsitsipas in the semis Friday, saying: "What's funny is again I'm going to play someone going for the 21st Slam.""I guess last time Rafa was watching," he said, <a href="https://www.insider.com/daniil-medvedev-sorry-for-beating-novak-djokovic-us-open-final-2021-9">alluding to his US Open win over Djokovic last September.</a>"I think Novak will be watching this one in two days also."

The Australian Open final lineup is proof that Novak Djokovic's vaccine absence has ensured he'll end the tournament as its biggest loser

<ul class="summary-list"><li>Forbes' annual ranking of the world's richest people has some big winners and losers.</li><li>Jeff Bezos' net worth dropped more than anyone else, down $57 billion from March 2022.</li></ul>It's been a rough year for tech companies, and tumbling stock prices have put big dents in their founders' fortunes.Forbes released its <a href="https://www.forbes.com/sites/chasewithorn/2023/04/04/the-25-richest-people-in-the-world-2023/?sh=750c3c6a4969">annual ranking</a> of the world's richest billionaires on Tuesday, and the list identified the billionaire whose wealth took the greatest hit in the last year: Amazon founder <a href="https://www.businessinsider.com/jeff-bezos-net-worth-life-spending-amazon-founder-billion-wealth">Jeff Bezos</a>.Bezos' net worth is down $57 billion from last March but still sits at a cool $114 billion, making him the world's third-richest person, according to <a href="https://www.forbes.com/sites/phoebeliu/2023/04/04/tech-billionaires-lost-another-200-billion-in-2023-heres-who-dropped-the-most/">Forbes</a>. Amazon's stock <a href="https://markets.businessinsider.com/news/stocks/amazon-lose-1-trillion-market-value-first-public-company-2022-11">fell by 50%</a> in 2022, and it became the first public company to ever lose $1 trillion in market value.Tesla and Twitter CEO Elon Musk came in second place on Forbes' list, with a net worth of $180 billion, and <a href="https://www.businessinsider.com/who-is-bernard-arnault-richest-person-in-europe-lvmh-life-photos-2019-1">Bernard Arnault</a>, the CEO of luxury goods company LVMH, has taken the top spot with a net worth of $211 billion.This year's list included 313 tech billionaires <a href="https://www.forbes.com/sites/phoebeliu/2023/04/04/tech-billionaires-lost-another-200-billion-in-2023-heres-who-dropped-the-most/?sh=1fa8f68625d8" target="_blank" rel="noopener">worth a collective $1.9 trillion</a>, down from 332 tech industry titans worth $2.1 trillion last year, per Forbes. In 2021, a red-hot year for the industry, Forbes identified 365 tech billionaires worth <a href="https://www.forbes.com/sites/kenrickcai/2021/04/06/here-are-the-richest-tech-billionaires-in-2021/?sh=14ebd2384d70" target="_blank" rel="noopener">a record $2.5 trillion.</a>So far, 2023 has also been off to a rocky start for Amazon. CEO Andy Jassy, who took over when Bezos stepped down in July 2021, announced in January that the company would <a href="https://www.businessinsider.com/amazon-laying-off-17000-workers-largest-job-cut-tech-report-2023-1">slash 18,000 jobs</a>, marking the biggest job cuts in its history. In March, Jassy said Amazon would <a href="https://www.businessinsider.com/amazon-layoffs-second-round-9000-job-jobs-2023-3">lay off 9,000 additional workers</a> on top of that as it looks to be a "leaner" company.

Jeff Bezos was the biggest net-worth loser in the last year, with his fortune dropping $57 billion, according to Forbes

<ul><li>The premium smartphone segment recorded a 1% growth in 2022.</li><li>iPhones accounted for 75% of premium smartphones sold in 2022.</li><li>Samsung reported a decline in its market share in the premium segment due to its weak presence in China.</li></ul>The premium smartphone segment remained positive in 2022, recording a 1% growth in sales, according to Counterpoint Research. While this number may seem low, it is significant as the overall smartphone market reported a decline of 12% during the same period. The premium smartphone segment comprises smartphones priced above-$600 (approx. ₹49,600). The growth of the premium smartphone segment has allowed it to capture 21% of the total smartphone market share for the first time, up from 19% in 2021. The above-$1,000 segment also emerged as the fastest-growing price segment in 2022, registering an increase of 38% year-on-year. Apple dominated this segment, accounting for 75% of the sales during the year. <cmsannotation type="cmsannotation" annotationid="Premium smartphones account for 55% of the revenue share" comment="subhead" text="Premium smartphones account for 55% of the revenue share">Premium smartphones account for 55% of the revenue share</cmsannotation> Despite accounting for only 21% of the total sales, premium smartphones, due to their higher value, accounted for 55% of the total revenue contribution. For the first time, the contribution of premium smartphones has crossed the 50% mark. According to a<a href="https://www.counterpointresearch.com/premium-market-captures-half-global-smartphone-revenue-2022-first-time/"> report</a> by Counterpoint Research, one of the reasons for the growth of the premium smartphones segment, despite the decline in the overall smartphone segment, is that affluent customers were more immune to the macroeconomic difficulties. Another reason, according to the report, is that people are willing to spend more on smartphones and retain them for a longer period as phones have become central to the lives of people. <cmsannotation type="cmsannotation" annotationid="Apple dominates the premium smartphone segment" comment="subhead" text="Apple dominates the premium smartphone segment">Apple dominates the premium smartphone segment</cmsannotation> Cupertino giant Apple continues to dominate the premium smartphone segment, reporting a 6% year-on-year growth from 2021. The smartphone maker recorded a 75% market share in the premium smartphone segment, meaning that three out of every four premium smartphones sold in 2022 was an <keyword id="6354606" type="General" weightage="80" keywordseo="iphone" source="Orion">iPhone</keyword>. Interestingly, the report claims that Apple could have grown more in 2022 had it not faced supply disruption during the peak holiday season of 2022. During the Black Friday sale in 2022, the supply of iPhones was<a href="https://www.businessinsider.in/tech/news/apple-iphones-in-short-supply-on-black-friday-as-chinas-covid-19-lockdown-disrupts-manufacturing-report-says/articleshow/95776031.cms"> affected</a> due to Covid-19 lockdowns in China. Devices like the iPhone 14 Pro and iPhone 14 Pro Max had a wait time of up to 40 days. <cmsannotation type="cmsannotation" annotationid="Samsung’s market share declines" comment="subhead" text="Samsung’s market share declines">Samsung’s market share declines</cmsannotation> Samsung reported a 5% year-on-year decline in the premium smartphones segment, with its market share declining from 17% to 16%. The decline was reportedly due to the company’s weak presence in China. <cmsannotation type="cmsannotation" annotationid="Xiaomi and Huawei amongst the top losers" comment="subhead" text="Xiaomi and Huawei amongst the top losers">Xiaomi and Huawei amongst the top losers</cmsannotation> Chinese smartphone makers Xiaomi and Huawei have emerged as the top losers in the premium smartphones segment. According to Counterpoint, the main reason for their decline was “difficult operating conditions” in their home market in China, which is their biggest market for premium devices. Huawei’s market share recorded a 44% year-on-year decline, with its market share declining to 3% from 5%. Xiaomi’s market share in the premium smartphones segment declined to 1% from 2% in 2021. The company recorded a 40% year-on-year decline. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/google-i/o-2023-pixel-7a-pixel-fold-pixel-tablet-android-14-and-everything-we-expect-to-see/articleshow/98798666.cms">Google I/O 2023 – Pixel 7a, Pixel Fold, Pixel Tablet, Android 14, and everything we expect to see</a> <a href="https://www.businessinsider.in/tech/gadgets/news/noise-and-fire-boltt-entered-in-top-five-in-global-smartwatch-shipments/articleshow/98171390.cms">These two Indian brands together sold more smartwatches than Samsung in 2022</a> <a href="https://www.businessinsider.in/tech/gadgets/news/four-out-of-five-wireless-earbuds-sold-in-india-in-2022-were-from-an-indian-company/articleshow/98141414.cms">Four out of five wireless earbuds sold in India in 2022 were from an Indian company</a>

You Searched For "top losers of 2022" and got 11 results

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You Searched For "top losers of 2022" and got 11 results

Why Apple could be a loser in Google's antitrust defeat

Peter Kafka

A grocery tycoon turned Walmart robotics supplier is one of this year's biggest wealth losers after $9 billion wipeout

Theron Mohamed

The stock sector that was 2022's biggest loser is the top gainer in 2023 as market leadership gets shaken up

Carla Mozée

The biggest winners and losers &mdash; in the coming AI job apocalypse

Emil Skandul

These were top 10 biggest winners and losers in the S&P 500 in the first quarter

Phil Rosen

Americans' net worth has plunged in 2022 — and billionaires are the biggest losers

Huileng Tan

The biggest winners and losers from the first half of F1's 2022 season

Cork Gaines

NFL DRAFT 2022: 11 winners and losers from the first round of the draft

Tyler Lauletta

The Australian Open final lineup is proof that Novak Djokovic's vaccine absence has ensured he'll end the tournament as its biggest loser

Will Martin

Jeff Bezos was the biggest net-worth loser in the last year, with his fortune dropping $57 billion, according to Forbes

Sarah Jackson

Three out of four premium smartphones sold in 2022 were an iPhone

Sourabh Jain

Popular Keywords

Buying Guides

The biggest winners and losers — in the coming AI job apocalypse