Tech billionaire Elon Musk has set a Guinness World Record – for the largest loss of personal fortune in history.
Guinness announced last week that Musk had lost about $182 billion of his net worth since November 2021.
Several factors contributed to Musk’s record-breaking loss. Tesla’s stock price plunged by over 70% in 2022, as investors grew concerned about the company’s ability to meet its ambitious production targets.
Musk’s acquisition of Twitter in October 2022 also contributed to his financial losses, as he was forced to sell billions of dollars worth of Tesla stock to fund the deal.
Despite the massive loss, Musk remains one of the world’s richest people, with an estimated net worth of $245.3 billion as of December 2023.
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