Viral

Elon Musk has broken a world record - for the most embarrassing reason

Elon Musk now holds World Record for greatest loss of wealth

Elon Musk has kickstarted the new year by breaking a Guinness World Record – for losing the most amount of money, ever.

According to Forbes, the tech billionaire, 51, has plummeted approximately $182bn (£150bn) since November 2021. However, Guinness' report suggested it's more likely to be around the $200bn (£164bn) mark.

While the exact figure is difficult to ascertain, his losses so far have surpassed the previous record of $58.6 billion (£49bn), set by Japanese tech investor Masayoshi Son in 2000.

Musk's net worth slump is said to be down to the poor performance of Tesla’s stock, dropping from a peak of $320bn (£263bn) in 2021 to $138bn (£169bn) as of January 2023. Although, it's worth noting that his estimated loss is based on his share values, which could regain value in time.

The shocking decline is said to have accelerated in October following his $44bn (£37bn) Twitter takeover.

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The bad news didn't stop there for Musk, who has now subsequently lost his 'world's richest person' title.

France's Bernard Arnault, the founder of luxury goods conglomerate LVMH (Louis Vuitton Moët Hennessy), has since taken the crown with his estimated net worth of $190bn (£156bn).

Despite Musk's notable plummet, Tesla continues to be one of the most popular car companies in the world, accumulating over $100bn more than its competitor, Toyota.

Although Musk has lost more money than anyone in the world and may not be the wealthiest person in the world, we're sure he won't be short for cash anytime soon.

After all, he's still the world's second-richest person, with an estimated worth of $144.4 billion, according to the latest Forbes report.

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