Elon Musk lost so much money that he was named the person with the “biggest loss of personal fortune in history” by Guinness World Records.
Elon Musk lost more than $100 billion in 2022 as a result of falling Tesla shares and is no longer the richest person in the world.
His personal riches suffered such a significant decline that he set a new Guinness World Record for “biggest loss in history.”
According to Forbes, Musk is still worth $144.4 billion today.
The CEO of Tesla and Twitter lost a significant portion of his wealth in the previous year, earning him a Guinness World Record. The group announced in a news statement on Friday that he had successfully beaten the previous record for the “biggest loss of personal riches in history.”
Recent estimates from Forbes and Bloomberg put Musk’s net f4 decline at $183 billion and $200 billion, respectively, in less than a year.
Before Musk, Masayoshi Son, the founder, and CEO of Softbank established the previous record for the largest personal wealth wipeout, which was far smaller at $58.6 billion.
According to estimates from Bloomberg, Musk’s net worth peaked in November 2021 when it surpassed $340 billion. But Tesla stock, which accounts for the majority of Musk’s fortune, went into free fall last year and will decline by 65% by 2022. Their precipitous decline accelerated when Musk acquired Twitter in October.
As a result, Bernard Arnault, the CEO of the French business that owns Louis Vuitton, has replaced Elon Musk as the richest man in the world.
According to the most recent Forbes estimations, Musk is now worth $144.4 billion.