Elon Musk, the CEO of Tesla, has officially broken the record for the largest loss of personal fortune in history, according to the Guinness Book of Records, DaOptimistic Reports.
According to Forbes, since November 2021, Musk has lost about $182 billion (£153 billion; €173 billion), according to the Guinness Book of World Records.
Amazing record: According to the journal, Musk has lost much more money than the previous record-holder, Japanese tech mogul Masayoshi Son, who set it in 2000, of $58.6 billion.
Forbes reports that Musk's net worth dropped from its peak of $320 billion in 2021 to $138 billion as of January 2023, primarily because Tesla stock underperformed.
Musk’s financial troubles cost him the title of the world’s richest person, which is now held by Bernard Arnault (France), founder of the luxury goods company LVMH (Louis Vuitton Mot Hennessy), who is estimated to have a net worth of $190 billion (£156 billion; €177 billion).
Musk’s wealth: The majority of Elon Musk’s assets are held in Tesla stock, whose value has fallen by 65% since 2022. When Musk purchased Twitter for $44 billion (£37 billion; €42 billion) in October, this unsettling decline got worse. Additionally, the messy takeover and Musk’s contentious behaviour on the platform led to the biggest Tesla stock sell-off since the company went public in 2010.
With a market capitalization of $100 billion higher than Toyota, Tesla is still the most valuable automaker in the world despite the decline in earnings.
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