Elon Musk sets Guinness World Record for largest loss of wealth
Elon Musk broke the world record with his huge 2022 fortune drop of $182 billion. On Friday, the organization announced the record based on Forbes data.
A huge wealth loss is foreseeable, considering how Musk acquired Twitter last year. Add to this the massive drop in Tesla shares and their continuing fluctuating value. The tech mogul has reportedly lost close to $200 billion since November 2021.
Guinness World Records announces Elon Musk broke the record for the largest loss of personal fortune in history ($200 billion).
— Watcher.Guru (@WatcherGuru) January 10, 2023
Guinness said that “the exact figure [of Musk’s loss] is almost impossible to ascertain.” Other sources claim that he lost more than $200 billion. Elon Musk now holds the record beating Japanese investor Masayoshi in 2000 with $58.6 billion lost.
Net Worth Lost
The organization said, “Musk’s net worth dropped from a peak of $320bn in 2021 to $138bn as of January 2023, largely due to the poor performance of Tesla’s stock.” In addition, the Tesla CEO lost his status as the richest person in the world. Loius Vuitton CEO Bernard Arnault surpassed Musk’s throne.
Forbes records as of January 12 show that Arnault’s net worth was at $203.7 billion while Elon Musk is at $146.5 billion. In addition to the Guinness World Records report, the majority of Musk’s wealth is associated with Tesla stocks. Its value dropped 65% in chaotic 2022. His purchase of Twitter for $44 billion contributed to the huge decline in tesla stocks.
Major investors feared logistical issues and lower demands. These factors have slowed down deliveries for the automaker. Also, fears of Musk being too focused on his new Twitter venture also drew worries which contributed to his plummeting stocks.
On Dec.30, 2022, market closing, Elon Musk tweeted. “Long-term fundamentals are extremely strong. Short-term market madness is unpredictable.” Despite holding this world record for the greatest wealth lost, the Twitter CEO won’t starve, considering that he is still the world’s second richest person.