On Thursday, the world’s wealthiest technology billionaires came to an end, a banner streak of wealth gains. The industry’s ten wealthiest people had $44 billion erased from their collective net worth as U.S. equities tumbled the most in almost three months over investor concerns about frothy valuations. Amazon.com dropped $ 9 billion as shares of the e-commerce giant fell since June. The net worth of Elon Musk fell by $8.5 billion as Tesla Inc. marking third day of straight declines. The reversal of fortunes underscores the ephemeral nature of paper wealth, particularly in a lofty market that at times seems divorced from economic realities.

Even as the pandemic inflicted record pain on economies around the globe, shrinking workforces and exacerbating hunger, some of the world’s wealthiest people notched extraordinary gains in personal wealth over the past month. Both Musk and Mark Zuckerberg became centibillionaires, with their fortunes regularly rising by more than $4 billion in a day on surging shares of Tesla and Facebook Inc. Bezos, the world’s richest person, became a centibillionaire twice over while his ex-wife, MacKenzie Scott, briefly achieved the title of world’s richest woman. According to the Bloomberg Billionaires Index, the 500 wealthiest people have together added $830 billion in the wealth this year.

Jeff Bezos is the biggest gainer, who ups $83 billion, and also Musk whose fortune has soared almost $69 billion.