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Elon Musk sets Guinness World Record for biggest ever loss of personal wealth

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Batori24 Bureau
Batori24 Bureau
Batori24 is a Vernacular based Assamese news portal based in Guwahati Assam. We are a dedicated news channel covering news and stories across the globe with special reference to Assam, north-east along with National and International news.

Elon Musk, the CEO of Tesla and SpaceX, has set a new Guinness World Record for losing personal wealth.

According to the publication, the volatile businessman has lost around $180 billion since November 2021, though other sources suggest that it could be closer to $200 billion.

The wealth lost is an approximate figure, according to Guinness World Records, but Musk’s total losses far exceed the previous record of $58.6 billion set by Japanese tech investor Masayoshi Son in 2000.

 

According to Forbes magazine, Elon Musk’s net worth fell from $320 billion in 2021 to $138 billion in January 2023 as a result of the poor performance of Tesla stocks.

Furthermore, Musk’s difficulties caused him to lose his title as the world’s richest person to Bernard Arnault (France), the founder of the luxury goods group LVMH (Louis Vuitton Mot Hennessy), who is estimated to have a net worth of $190 billion.

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Despite losing more money than any other human ever, Musk remains the world’s second-richest person.

Tesla’s stock has plummeted in the previous three months, owing in part to Musk’s takeover of Twitter and related distractions.

 

Since purchasing Twitter, there has been speculation that Musk may sell more Tesla stock in order to keep the cash-strapped social media business afloat and divert his attention away from managing the automaker. This has put downward pressure on the price, causing it to fall.

 

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