Elon Musk sets new world record… for largest loss of personal wealth after £135billion was wiped from his fortune
- Musk now holds the record for the largest personal fortune losses in history
- Must lost £135 billion from his fortune from November 2021 to December 2022
- This came after Musk’s Tesla company’s share price plummeted by around 65 percent
He always wanted to make history, but maybe not like this.
Elon Musk has broken the world record for amassing the biggest losses from his personal fortune in history – he wiped £135 billion ($165 billion) from his fortune between November 2021 and December 2022, according to Guinness World Records.
It comes after the stock value of Musk’s electric car company Tesla plummeted around 65 percent after he bought Twitter last year, a move that spooked investors.
The losses beat a previous record of £47 billion set by Japanese tech investor Masayoshi Son in 2000.
Elon Musk has broken the world record for amassing the largest losses from his personal wealth in history, according to Guinness World Records. Pictured: Musk in Los Angeles, California, June 13, 2019
In December, Bernard Arnault overtook Musk – who is now worth around £152bn – as the world’s richest person.
The figures are based on information from the publisher Forbes.
According to Guinness, Musk’s true losses could be higher than the figure given.
His £36billion takeover of Twitter sparked concerns among investors that Mr Musk wasn’t paying enough attention to Tesla.
the estimated loss is based on the value of its shares, which could regain their value.
His £36billion takeover of Twitter sparked concerns among investors that Mr Musk wasn’t paying enough attention to Tesla. Pictured: Musk in Norway, August 29, 2022
The value of Tesla shares has fallen by around 65 percent in 2022.
Mr Musk tweeted after the market closed in December: “Long term fundamentals [at Tesla] are extremely strong. Short term market madness is unpredictable.’
Mr Musk is now worth around £152billion, according to Forbes. Mr Arnault is worth an estimated £155 billion.