Elon Musk set a world record…losing money  

The biggest loss of personal property

Elon Musk managed to enter the Guinness Book of Records with the largest loss of personal wealth on record. From November 2021 to December 2022, the once richest man in the world managed to lose $165 billion!

The defining moment for Musk came when he bought Twitter, after the $44 billion acquisition worried Tesla investors, who felt he was no longer paying enough attention to the company.

Thus, Musk broke the previous negative record held by Japanese investor Masayoshi Son from 2000, losing $58.6 billion. In December, Musk lost the title of the world’s richest man, a position now held by Bernard Arnault, the CEO of LVMH, which sells luxury goods and owns brands such as Louis Vuitton.

Through 2022, Tesla’s stock has fallen 65%, delivering just 1.3 million vehicles and falling short of Wall Street’s expectations. The majority of Tesla investors believe Musk needs to refocus the company as demand slows amid fears of an economic downturn, increased competition and supply chain challenges due to COVID.

Musk’s worth is currently estimated at around $178 billion according to Forbes, while Bernard Arnault’s is estimated at $188 billion.