Elon Musk has broken the world record for largest loss of personal wealth. According to the Guinness Book of World Records, the head of Tesla, Twitter and SpaceX has lost at least $182 billion since November 2021. The actual loss is likely to be even higher.
“Musk’s net worth has fallen from a peak of $320 billion in 2021 to $138 billion in January 2023, largely due to the underperformance of Tesla stock,” said the Guinness Book of World Records, citing figures from the American magazine Forbes. .
Previous negative record ‘far surpassed’
While the report admits the exact number is “almost impossible to pin down” — other sources suggest Musk’s losses could be closer to $200 billion — it notes that Musk’s total losses surpassed the previous all-time high of $58. $6 billion from Japanese technology investor Masayoshi surpassed. Son in 2000.
No longer the richest person in the world
In December, Musk lost his position as the world’s richest person to Bernard Arnault, head of French luxury goods conglomerate LVMH, owner of the Louis Vuitton fashion label. Arnault’s net worth is $203.7 billion and Musk’s is $146.5 billion, according to Forbes’ January 12 estimate.
Most of Musk’s wealth is tied up in Tesla stock, which has fallen in value by 65 percent in the past year, according to the Guinness Book of World Records. The decline accelerated in October when Musk bought short messaging service Twitter for about $44 billion.
Despite the losses, Tesla remains the world’s most valuable auto company, with a market capitalization of more than $100 billion, surpassing its closest competitor, Toyota, according to the Guinness Book of World Records.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
