Elon Musk sets record for worst loss of fortune, loses $182B since November 2021

Tesla and SpaceX CEO Elon Musk, the world’s second-wealthiest person, is now the official record holder for the largest loss of personal fortune in history, according to Guinness World Records, which cited Forbes’ estimation of the drop in Musk’s net worth.

According to Guinness World Records, Musk has lost $182 billion since November 2021.

<p>Tesla and SpaceX Chief Executive Officer Elon Musk speaks on March 9, 2020, in Washington.</p>

AP Photo/Susan Walsh

Tesla and SpaceX Chief Executive Officer Elon Musk speaks on March 9, 2020, in Washington.

The previous record holder was Korean-Japanese billionaire and Softbank founder Masayoshi Son, whose total wealth dipped by $58.6 billion in 2000, going from $78 billion in February to $19.4 billion in July.

Guinness said Musk’s net worth slumped from a peak of $320 billion in 2021 to $138 billion in January 2023, putting him behind France’s Bernard Arnault, who swapped places with him on the richest person list in December last year and whose net worth, as of Jan. 10, 2023, stands at $196.6 billion.

While the majority of Musk’s fortune is tied up in Tesla stock, the decline in his wealth, as per Guinness, began after his acquisition of Twitter, which he bought in October 2022 for $44 billion.

The Twitter takeover and its new owner’s behavior have been cited as reasons contributing to the biggest Tesla stock-off since 2010, when the company went public. Despite this, Tesla continues to be the world’s most valuable car company, and its market cap is more than $100 billion larger than that of its closest competitor, Toyota.

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