According to Guinness World Records (GWR,) Tesla Chief Executive Officer (CEO) and new owner of Twitter Mr. Elon Musk has set a record for the biggest loss of personal riches in history.
Getting into the details, the company said that some sources suggest Mr. Elon Musk has lost close to $200 billion, citing Forbes’ estimate that he has lost about $182 billion since November 2021. According to the website, even though it’s very difficult to pinpoint the precise amount, Musk’s overall losses much exceed the previous record of $58.6 billion, which was achieved by Japanese tech investor Masayoshi Son in 2000.
The source further added that due to his troubles, Mr. Elon Musk also lost the title of world’s richest person to Bernard Arnault, a French businessman and the creator of the luxury goods giant LVMH (Louis Vuitton Moet Hennessy,) who is thought to have a net worth of $190 billion.
As per sources, Elon Musk’s net worth decreased significantly as a result of the underwhelming performance of Tesla’s shares, falling from $320 billion in November 2021 to $137 billion in January 2023.
According to the outlet, Mr. Musk sold $7 billion worth of Tesla stock to raise money for his plan to purchase Twitter, as well as another $4 billion in November.
Mr. Elon Musk sold an additional $3.58 billion of stock in the past month, increasing his overall sell-off to more than $23 billion since April.
Furthermore, the group also pointed out that this frightening fall quickened in October following Mr. Musk’s acquisition of Twitter for about $44 billion.
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