Elon Musk has entered the Guinness World Records for the greatest loss of riches in history.
Elon Musk has shattered the global record for the biggest loss of personal fortune in history, according to Guinness World Records.
The famous world record authority said on its website that Musk had lost around $182 billion since November 2021, using a Forbes estimate, which appeared to offer a lesser estimate of Musk’s overall loss. According to Bloomberg, Musk lost 57% of his personal worth between November 2021 and now, bringing his net worth from $320 billion in November to $138 billion this month.
Notably, Guinness claims that determining the precise sum would be impossible owing to market volatility. Regardless of the facts, Musk has surpassed the previous global record of $58.6 billion set by Korean-Japanese tech investor and Softbank CEO Masayoshi Son in 2000. Musk’s net worth was significantly reduced until 2022 when Tesla stock, in which the majority of his fortune is invested, fell by 65%.
Additionally, the Tesla CEO saw his net worth decrease more when he acquired Twitter in October for $44 billion, as Musk’s obviously controversial conduct led to many investors abandoning Tesla shares, thereby decreasing its price. The October Tesla share sell-off was the greatest since the firm went public in 2010. Despite enormous share sell-offs, Elon Musk’s firm remains the most valuable automotive manufacturer in the world, with a market worth of more than $100 billion and its nearest competition being Toyota. Guinness notes that even though Musk has lost more money than any human in history, he will not go hungry anytime soon because he is still the world’s richest person.
Resources: tweaktown.com, photobank
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