Musk breaks record for highest personal fortune lost

The Chief Executive Officer of Tesla, Elon Musk, has been listed in the Guinness Book of Record for losing $165 billion of his personal fortune.

Musk was listed as the ‘largest loss of personal fortune’ after losing the amount in December 2022.

Forbes reported that Musk’s net worth dropped from its peak of $320 billion in November 2021 to $155 billion one year later, largely down to poor performance of Tesla’s stock.

Other sources suggest his losses could in fact be closer to $200 billion.

Though the exact figure is almost impossible to ascertain, the total far surpass the previous record of $58.6 billion, suffered by Japanese tech investor Masayoshi Son in 2000.

Musk is the largest shareholder in Tesla, with a stake of 14 per cent. He completed a tumultuous $44bn takeover of Twitter in October.

His net worth peaked in November 2021, reaching $340bn, according to Bloomberg.

However, Musk’s fortunes were dented after the Twitter takeover coupled with his “polarising behaviour on the platform” that sparked the biggest Tesla stock sell-off, Guinness World Records said.

-punch news