Elon Musk has set a brand-new world record, but it’s not what you may expect.
Elon Musk, the CEO of Tesla, has shattered the record for “worst fortune lost.”
Musk suffered a total loss of between November 2021 and January 2022 of more than $200 billion.
Musk still has a $146 billion net worth, making him the richest person in the world despite the significant loss of fortune.
Elon Musk sets Guinness World Record for losing most money https://t.co/Xp19syR37x
— The Independent (@Independent) January 11, 2023
Breitbart broke the story:
Tesla CEO, Twitter owner, and self-promoter Elon Musk has broken the world record for “worst loss of fortune,” according to Guinness World Records.
The Washington Post reports that according to Guinness World Records, Elon Musk, the tech billionaire and CEO of Tesla, has experienced the “worst loss of fortune in history.” Data from Forbes and the Bloomberg Billionaires Index states that between November 2021 and January 2022, Musk lost about $200 billion. The previous record was held by Japanese billionaire Masayoshi Son, CEO of SoftBank, who lost $58.6 billion during the 2000 tech stock crash. Taking inflation into account, that loss would be equivalent to about $100 billion today.
The loss occurs in the wake of Musk’s $44 billion acquisition of Twitter, where he fired thousands of employees. Investors in Tesla, the electric vehicle manufacturer that Musk owns, have expressed concern as a result, saying that he is wasting too much time trying to improve Twitter at the expense of Tesla. Tesla stock has lost 39 percent of its value since December 1, 2022.
Calculating a person’s net worth at a particular moment in time can be challenging as external factors like market conditions or governmental policy can cause significant fluctuations in the value of a stock that is tied to an entrepreneur’s net worth to occur quickly.
Elon Musk has set a Guinness World Record for losing the most wealth ever.
The Tesla and Twitter CEO erased so much of his money since November 2021 that he's broken the world record for the "largest loss of personal fortune in history," Guinness said. https://t.co/u1ohJzs0fw
— USA TODAY (@USATODAY) January 10, 2023
NPR shared these details:
Tesla CEO Elon Musk has broken a record for the largest amount of money lost by one person, according to Guinness World Records.
Musk lost between $180 billion and $200 billion since November 2021, largely due to the poor performance of Tesla stocks in recent years, according to the report.
His fortune went from about $320 billion in 2021 to its current level of about $147 billion. Still, Musk remains the second-richest person in the world, behind Bernard Arnault, the CEO of luxury goods conglomerate LVMH, according to numbers by Forbes.
Despite Tesla setting new sales records in 2022 (it grew deliveries by 40% from the previous year), the stock lost 65% of its value in 2022, due to competitors.
The previous record for the most money lost by one person was $58.6 billion, set by Japanese tech investor Masayoshi Son in 2000, according to the Guinness report.