Lagatar24 Desk
New Delhi, Jan 12: Elon Musk has created a world record for the largest loss of personal fortune in history, according to Guinness World Records.
In the post, the organization cited Forbes’s estimate that Musk has lost around $182 billion since November 2021, though other sources indicate the figure is closer to $200 billion. Musk’s net worth has dropped from a peak of $320 billion in 2021 to $138 billion in January 2023 due to the poor performance of Tesla stocks.
“It is almost impossible to point an exact figure, but Musk’s total losses far surpass the previous record of $58.6 billion, set by Japanese tech investor Masayoshi Son in 2000,” wrote GWR.
Elon sold Tesla stock worth $7 billion as he was trying to buy Twitter and another $4 billion in November. Last month, he sold another $3.58 billion worth of stock, taking his total sell-off to more than $23 billion since April.
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As per GWR, “Musk’s misfortunes also saw him lose his status as the world’s richest person to Bernard Arnault (France), the founder of luxury goods conglomerate LVMH (Louis Vuitton Moet Hennessy), who has an estimated net worth of $190 billion.”
The organization also noted that this alarming decline accelerated in October after Musk bought Twitter for roughly $44 billion.
“As Elon Musk continues to build his tech conglomerate, we will not be surprised if he bounces back at some point in the future,” reads the Guinness blog post.
Besides Musk, the other billionaires who have seen their fortunes decline are Microsoft’s Bill Gates, Amazon’s Jeff Bezos, Oracle’s Larry Ellison and Google’s Larry Page.
