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On January 6, 2023, Guinness World Records declared that Elon Musk has broken the world record for the highest personal wealth loss in history.
Guinness World Records announced on January 6, 2023, that Elon Musk has established the world record for the most personal wealth lost in history.
According to Business Insider (BI), billionaire Elon Musk has recently been officially recognized by Guinness as the individual who lost the most money in history, an award that few would desire at the beginning of 2023.
Guinness World Records announced on January 6, 2023, that Elon Musk has broken the world record for the highest personal wealth loss in history.
While Forbes estimates Elon Musk lost around USD 183 billion in the past year, Bloomberg suggests this figure must be around USD 200 billion.
Before Elon Musk, the record for the largest personal wealth loss in the world belonged to Softbank CEO Masayoshi Son, who lost $58.6 billion in 2000.
Elon Musk's total wealth peaked in November 2021 at $340 billion, according to Bloomberg estimates, thanks to the sharp increase in Tesla's stock price. However, as the stock lost 65% of its value in 2022, Musk also lost money as the majority of his wealth is in the form of Tesla stocks.
This financial setback accelerated further after Elon Musk pledged Tesla stocks for the $44 billion acquisition of the social media giant Twitter. As a result, this billionaire lost the title of the world's richest person to Bernard Arnault, the owner of the French conglomerate that owns major fashion brands such as Louis Vuitton.
According to the latest estimate from Forbes magazine, Elon Musk's total wealth is currently around $144.4 billion.
*Source: BI
