Elon Musk set a world record!?

Jan 11

The official Guinness World Records website announced on January 10 that Tesla CEO Elon Musk had lost approximately $200 billion in net worth since November 2021, breaking the Guinness World Record for the biggest loss of personal wealth in history.
Musk's net worth decreased from a height of $320 billion in November 2021 to $138 billion on January 3, 2019, according to the most recent figures from the U.S. Forbes website, although other sources indicate that his actual asset loss may be closer to $200 billion.

Musk's fortune is believed to derive primarily from his Tesla stock holdings; nevertheless, the market value of Tesla's shares has decreased by approximately 65 percent over the past year.

Despite Musk's assertion that the stock price decline was caused by macroeconomic issues like as the Federal Reserve's large interest rate hike to combat inflation and the European energy crisis, other analysts disagree. Many Tesla shareholders, however, believe that Musk's $44 billion acquisition of Twitter is the primary cause.

In addition, the Guinness World Record for the largest loss of personal wealth was previously held by Japan's SoftBank Group CEO Masayoshi Son, whose personal wealth fell from a high of $78 billion in February 2000 to $19.4 billion in July of the same year, wiping out nearly $60 billion of his net worth in a matter of months.

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