Elon Musk breaks world record for largest loss of personal fortune in history
Technology
Elon Musk breaks world record for largest loss of personal fortune in history
Web Desk - Tesla and Twitter owner Elon Musk has officially broken the world record for the largest loss of personal fortune in history, said the Guinness World Records in a blog.
The largest loss of personal fortune is that of Mr Musk, estimated by Forbes to be roughly $165 billion as of December 2022. Forbes report that Musk’s net worth plunged from its peak of $320 billion in November 2021 to $155 billion one year later, largely down to poor performance of Tesla’s stock.
However, the GWR citing sources said his losses could in fact be closer to $200 billion. Though the exact figure is almost impossible to ascertain, the total far surpass the previous record of $58.6 billion, suffered by Japanese tech investor Masayoshi Son in 2000, it said.
Musk s misfortunes also drprived him of his status as the world’s richest person as the title has now been taken over by 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 Elon Musk’s fortune is tied up in Tesla stock, the value of which plummeted 65% in 2022. This alarming decline accelerated in October after Musk bought Twitter for roughly $44 billion.
