Elon Musk, formerly the world’s richest man, has set a new world record by losing the largest amount of personal fortune of any person in history.
According to Guinness World Records, Musk has lost around $182 billion since November 2021. Other estimates put the losses – fueled largely by a fall in Tesla stock – at closer to $200 billion, but either way, the loss has surpassed the previous record holder; Japanese tech investor Masayoshi Son, who lost $58.6 billion in 2000.
The drop in Tesla stock, which fell in value by around 60 percent in 2022, saw Musk lose the title of World’s Richest Person back in December. Forbes currently puts his personal wealth at $146 billion, over $50 billion short of the CEO and co-founder of LVMH Moët Hennessy Louis Vuitton, Bernard Arnault. Arnault’s wealth is currently estimated to be $203.8 billion.
Much of Musk’s wealth is tied to Tesla stock performance, meaning it could go up again if Tesla share performance improves. The firm failed to make as many vehicles in 2022, falling short of Wall Street expectations, partially prompting the recent fall.
The year does not appear to be getting better so far, with an eight-car pile-up allegedly caused by a Tesla in full self-drive mode, mere hours after Musk announced the feature was available to anyone in North America who requested it.
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