Mallika Dureja
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A Guinness World Records report says that Elon Musk has lost more money than anyone else in history. This makes him the person who has lost the most money in history.
The tech billionaire has lost about $182 billion (£150 billion) since November 2021, the report said. However, other sources say it could be closer to $200 billion.
“Musk’s net worth dropped from a high of $320bn in 2021 to $138bn in January 2023,” the global records database said, citing data from Forbes. This was mostly because Tesla’s stock didn’t do well.
Even though the exact number is “almost impossible to figure out,” the report says that Musk’s total losses “far exceed” the previous record of $58.6 billion (£47 billion), which was set in 2000 by Japanese tech investor Masayoshi Son.
In December, Bernard Arnault, the CEO of the French luxury goods company LVMH, which owns the fashion brand Louis Vuitton, passed Elon Musk as the richest person in the world.
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As of January 12, Forbes estimated that Arnault’s net worth was $203.7 billion (£168 billion) and Musk’s was $146.5 billion (£121 billion).
The Guinness World Records report said that most of Musk’s wealth is tied to Tesla stock, which lost 65% of its value in a rough year like 2022.
Elon Musk could break world record for largest loss of personal fortune in history https://t.co/A9h1JSoQBp
— BBC News (World) (@BBCWorld) January 11, 2023
It was said that the drop sped up in October after Musk bought Twitter for about $44 billion (£36 billion).
The world’s most valuable automaker has had trouble getting cars to customers because of worries about weakening demand and problems with logistics.
On December 30, 2022, when the market closed for the year, Musk sent out a tweet saying, “Long-term fundamentals are very strong. Market madness in the short term is hard to predict.”
