Elon Musk has broken the world record for the biggest loss of personal wealth in history, according to a Guinness World Records report.
The tech billionaire has lost an estimated $182bn (£150bn) since November 2021, although other sources suggest he may actually be closer to $200bn, according to the report.
“Musk’s net worth fell from a peak of $320 billion in 2021 to $138 billion in January 2023, largely due to the poor performance of Tesla shares,” the Global Database said. records, citing figures obtained from Forbes.
Although the report concedes the exact figure is “almost impossible to determine”, it notes that Musk’s total losses “far exceed” the previous record of $58.6bn (£47bn), set by Japanese technology investor Masayoshi Son in 2000.
In December, the Tesla boss lost his position as the world’s richest person to Bernard Arnault, the chief executive of French luxury goods conglomerate LVMH, owner of fashion brand Louis Vuitton.
Forbes estimates as of January 12 put Arnault’s net worth at $203.7bn (£168bn) and Musk’s at $146.5bn (£121bn).
The majority of Musk’s fortune is tied to shares of Tesla, the value of which fell 65% in a tumultuous 2022, according to the Guinness World Records report.
The decline accelerated in October after Musk bought Twitter for around $44bn (£36bn), he said.
Growing concerns about weakening demand and logistical issues have hampered deliveries from the world’s most valuable automaker.
As the market closed the year on December 30, 2022, Musk tweeted: “Long term fundamentals are extremely strong. Short-term market madness is unpredictable.