Elon Musk's $182 billion net worth drop creates new Guinness World Record

The Tesla chief has lost most money than any billionaire in 2022

By Web Desk

Published: Thu 12 Jan 2023, 12:17 AM

Last updated: Thu 12 Jan 2023, 12:21 AM

Elon Musk, once the richest man in the world, has now created a world record for the largest loss of personal fortune in history, according to Guinness World Record.

According to Forbes magazine estimates, Musk lost around $182 billion since November 2021, although some sources suggest that it could actually be closer to $200 billion.

His net worth dropped from a peak of $320 billion in 2021 to $138 billion as of January 2023 due to poor performance of Tesla stocks.

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The SpaceX CEO’s losses have surpassed the previous record of $58.6 billion held by Japanese tech investor Masayoshi Son in 2000.

Musk sold Tesla stocks worth $7 billion as he was trying to buy out Twitter in 2022and the stocks ended in a 65% loss, according to Forbes.

His net worth dropped below $200 billion in November 2022 as investors got rid of Tesla shares over worries that he may be more focussed on Twitter.

Musk, who held the top spot on the Forbes list since September 2021, started 2022 as planet’s richest person but lost the title to Bernard Arnault, founder of LVMH (Louis Vuitton Moet Hennessy), who has an estimated net worth of $190 billion.

Besides Musk, the other billionaires who have seen their fortunes decline are Microsoft’s Bill Gates, Amazon’s Jeff Bezos, Oracle’s Larry Ellison and Google’s Larry Page