Money & Business

Musk breaks world record for biggest ever loss of personal fortune

Elon Musk has broken the record for the biggest loss of personal fortune ever, according to the Guinness World Records.

He has allegedly lost $182billion (£150billion) since November 2021, with some sources suggesting it could be more like $200billion.

The report suggests that the huge loss was likely caused by the drop in Tesla’s share price.

“Musk’s net worth dropped from a peak of $320billion in 2021 to $138billion as of January 2023, largely due to the poor performance of Tesla’s stock,” the global records database said, citing figures from Forbes.

According to the analysis, the exact figure is “almost impossible to ascertain” but Musk’s total losses “far surpass” the previous record of $58.6billion (£47billion) by Japanese tech investor, Masayoshi Son in 2000.

The Tesla boss lost his place as richest person in the world to Bernard Arnault, the chief executive of French luxury goods conglomerate LVMH in December.

The fashion boss is estimated to be worth $203.7billion (£168billion) as of January 12 compared to Musk’s net worth of $146.5billion (£121billion), according to Forbes.

Musk’s fortune is mostly tied up in Tesla stock, the value of which plummeted 65 per cent in 2022, the Guinness World Record report stated.

As the market closed for the year on December, 30, 2022 Musk tweeted: “Long-term fundamentals are extremely strong. Short-term market madness is unpredictable.”


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