Elon Musk sets world record for most money lost


Elon Musk has secured a world record for the largest loss of personal fortune in history, Guinness World Records said.

According to Forbes, Musk’s net worth dropped from a peak of $320 billion in 2021 to $138 billion as of January 2023, largely due to the poor performance of Tesla’s stock.

Guinness World Record, quoting Forbes estimates, added that Musk lost approximately $182 billion since November 2021. However, other sources suggested it could actually be closer to $200 billion.

The organisation, however, didn't reveal the exact figure, claiming "it is almost impossible to ascertain".

In fact, Japanese tech investor Masayoshi Son said Musk’s total losses far surpassed the previous record of $58.6 billion in 2000.

Musk's misfortunes also saw him lose his status as the world’s richest person to Bernard Arnault (France), founder of luxury goods conglomerate LVMH (Louis Vuitton Moët Hennessy), who has an estimated net worth of $190 billion.

The majority of Musk’s fortune is tied up in Tesla stock, the value of which plummeted 65 per cent in 2022. This decline accelerated in October after Musk bought Twitter for roughly $44 billion.

The tumultuous takeover, coupled with Musk’s polarizing behaviour on the platform, sparked the biggest Tesla stock sell-off since the company went public in 2010.

Despite the plunge in prosperity, Tesla remains the most valuable car company in the world, with a market cap over $100 billion larger than their closest competitor, Toyota.

And even though Musk has lost more money than any human in history, he’s still secured the position of the world’s second-richest person.

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