Elon Musk breaks the world record for the largest loss of personal fortune in history | Elon Musk RS News

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RS News

Elon Musk has broken the world record for the largest loss of personal fortune in history, according to a report by Guinness World Records.

The tech billionaire has lost roughly $182bn (£150bn) since November 2021, although other sources suggest it could actually be closer to $200bn, according to the report.

“Musk’s net worth fell from a peak of $320 billion in 2021 to $138 billion in January 2023, largely due to underperforming Tesla stock,” the Global Records database said, citing figures obtained from Forbes.

While the report acknowledges that the exact figure is “almost impossible to determine”, it noted that Musk’s total losses “far exceed” the previous record of $58.6bn (£47bn), set by Japanese tech investor Masayoshi Son. in 2000.

In December, the Tesla boss lost his position as the world’s richest person to Bernard Arnault, chief executive of French luxury goods conglomerate LVMH, which owns the Louis Vuitton fashion brand.

Forbes estimates as of January 12 put Arnault’s net worth at $203.7bn (£168bn) and Musk’s at $146.5bn (£121bn).

Most of Musk’s fortune is tied up in Tesla shares, whose value plunged 65% in a tumultuous 2022, according to the Guinness World Records report.

The decline accelerated in October after Musk bought Twitter for about $44bn (£36bn), he said.

Rising concerns about weakening demand and logistical problems have hampered deliveries from the world’s most valuable automaker.

As the market closed out the year on December 30, 2022, Musk tweeted: “Long-term fundamentals are extremely strong. Short-term market madness is unpredictable.”

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