Amazon CEO Jeff Bezos took the hardest hit with a two-day loss of nearly $12 billion, followed by Alphabet CEO Larry Page at $2.3 billion. Facebook's Mark Zuckerberg saw the value of his shares drop $1.7 billion.
Of course, compared to their total net worth, being down a few million or even billion, is a relatively small loss for these tech leaders. And as of Friday midday, tech shares were already rebounding.
While Bezos took the biggest hit, for example, he remains the richest man in the world, with a $142 billion net worth, according to the Bloomberg Billionaires Index. Overall, Amazon's stock is up 50 percent for the year, even with this week's market volatility.
The Dow Jones Industrial Average dropped 800 points Wednesday, amid fears of rapidly rising interest rates and a potential global slowdown. On Thursday, it closed 545.9 points lower for a two-day loss of more than 1,300 points.
While Octobers are typically tough for markets, this week marked the worst start to the month since 2008, MarketWatch reports.
Still, tech is up 11 percent this year with leaders like Apple up 20 percent or more.
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