According to a Guinness World Records study, Elon Musk has surpassed the previous record for the greatest loss of personal riches.
According to the article, the tech mogul has lost over $182 billion (£150 billion) since November 2021, however, other reports indicate that it may have been closer to $200 billion.
It comes after Mr Musk’s electric vehicle company Tesla’s stock value dropped after he acquired Twitter last year. After Musk purchased Twitter for approximately $44 billion (£36 billion), the decrease quickened in October, it claimed.
Investors are worried that Mr Musk is no longer paying enough attention to Tesla after purchasing the social media business for $44 billion (£36 billion).
The sum lost by Mr Musk since November 2021 surpasses the previous record set by Masayoshi Son, a Japanese tech investor, who lost $58.6 billion (£47 billion) in 2000.
The predicted loss is predicated on his shares’ potential to increase in value, which would result in Mr Musk’s fortune rising once more.
The head of Tesla was dethroned as the richest man in the world in December by Bernard Arnault, the CEO of the French luxury goods company LVMH, which owns the fashion house, Louis Vuitton.
The latest estimations from sources have Musk’s net worth at $146.5 billion (£121 billion) and Arnault’s at $203.7 billion (£168 billion).
According to the Guinness World Records report, the majority of Musk’s fortune is invested in Tesla stock, the value of which fell 65% in a turbulent 2022.
Deliveries for the most valuable manufacturer in the world have been slowed by growing concerns over declining demand and logistical issues.
On December 30, 2022, the market closed for the year. Musk tweeted: “Long-term fundamentals are extremely strong. Short-term market madness is unpredictable.”
It is estimated by sources that Mr Musk is currently worth $178 billion (£152 billion), while Bernard Arnault is worth an estimated $188 billion (£155 billion).
