Elon Musk’s loss of fortune enters the Guinness Book of Records
Elon Musk went down in history as the person who loses the most money in the world. Guinness has named Musk “the person who suffered the greatest loss of personal wealth in history.”
Tesla and the CEO of Twitter lost a huge fortune last year. Guinness said in a press release on Friday that Musk had officially broken the world record for “the greatest loss of personal wealth in history.”
STEAM HAS AROUND 200 BILLION
Forbes recently estimated that Musk’s net worth dropped by $183 billion in a little over a year, while Bloomberg said his lost fortune was around $200 billion.
The previous record before Musk was broken by Softbank founder and CEO Masayoshi Son in 2000. $58.6 billion of Masayoshi Son’s fortune was erased. Musk’s fortune collapse was more than 3 times the previous record.
TESLA CRACKED IN 2022
According to Bloomberg estimates, Musk’s net worth peaked in November 2021, reaching $340 billion. But Tesla shares, which make up the vast majority of Musk’s fortune, fell sharply last year. Tesla’s stock price fell 65 percent in 2022. The decline accelerated after Musk bought Twitter in October.
However, Musk also lost his position as the richest person in the world. Musk’s place on the list was taken by Bernard Arnault, owner of France’s Louis Vuitton. According to the latest estimates from Forbes, Musk’s fortune is around 144.4 billion dollars.
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
