Elon Musk Now Holds World Record for Largest Loss of Wealth Ever, Guinness Says

Making History

Elon Musk is currently officially a Guinness World Record holder … for the most quantity of money a single human has lost, ever.

His net worth plummet of $182 billion since November past year has currently made the controversial business magnate the record holder for the “biggest loss of individual fortune in background.“

That figure comes from Forbes’ estimate– actually on the low end, with Bloomberg putting it as great as $200 billion– which amounts to a 57 percent decrease, down from $320 billion in November to “just” $138 billion previously this month.

Guinness admits in its press release that “the exact figure is nearly difficult to ascertain.” However, even if you provide or take a couple billion, Musk’s sky-high losses are easily clear of the before record held by Korean-Japanese investor and Softbank chief executive officer Masoyishi Son of $58.6 billion.

Tesla Troubles

What could generate such a drastic dropoff? Well, most of Musk’s rich is tied up in shares of his electrical automobile outfit Tesla, the stock of which has been tanking since last fall and took another nosedive recently– the automaker’s worst day in two years.

The Chef Executive Officer tried to alleviate his losses by vigorously unloading billions of dollars worth of his Tesla shares; however, evidently, that wasn’t sufficient to prevent him from landing in the record books.

Tesla stock was just trending downward amidst broader scrutiny from the public and also governments alike over the safety and marketing of its cars when Musk bought Twitter in October, a maligned move that came with its own heaps of controversy. Tesla just continued its downward spiral from there.

In general, 2022 proved to be the worst year in Tesla stock’s background, with a 65 percent annual decline totaling about $700 billion of market valuation currently vanished.

To be fair, last year was a bad one for many of the world’s richest in general, such as Sam Bankman-Fried and Mark Zuckerberg, to name a few. Accordingly to Forbes, the wealth of billionaires across the world dropped by nearly $2 trillion in 2022.

In spite his continuing concatenation of calamities, Musk could take solace in the fact that he’s still the 2nd richest person in the world, not to mention inconceivably wealthy.

Read thee original article on Futurism.

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