According to Guinness World Records, Elon Musk set a new record for the greatest loss of a person’s wealth in history by depleting his fortune by £135 billion between November 2021 and December 2022, glamsquad reports.
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The bad news comes after investors were alarmed by Musk’s purchase of Twitter last year, which caused his electric vehicle company Tesla’s share price to drop by about 65 percent.
Masayoshi Son, a Japanese tech investor, set the previous record with £47 billion in losses in 2000.
Bernard Arnault surpassed Musk as the world’s richest person in December. The figures were based on those provided by publisher Forbes.
According to Guinness, Musk’s true losses could be higher than the figure given. Investors were concerned by his £36 billion takeover of Twitter. Mr. Musk was not giving Tesla enough attention.
The estimated loss is based on the value of his shares, which may recover. In 2022, the value of Tesla shares fell by approximately 65 percent.
According to Forbes, Mr. Musk is now worth approximately £152 billion. Mr. Arnault’s net worth is estimated to be £155 billion.