The Tesla owner, Elon Musk has now set a new world record for losing his personal wealth. Elon has lost around $180 billion since November 2021, said the public . According to the Guinness World Record , it is not an exact amount, but Musk’s total losses surpasses that of the previous record of $58.6 billion , set by Japanese Tech investor Masayoshi Son in 2000.
As of January 2023, Elon Musk’s net worth dropped from approximate of $320 billion in 2021 to $138 billion as of January 2023 due to the poor performance of Tesla stocks.
Tweets from Guinness Book of World Records.
The Guinness book of world records also tweeted that the amount the musk has lost is the highest amount anyone has lost in the history. He suffers worst loss of fortune in history amid “market madness”. Also , Musk’s losses had made him lose his status to Bernard Arnault , founder of luxury goods conglomerate LVMH ( louis Vuitton Moet Hennesy) as the richest person in the world. But surprisingly, even after losing that much amount of money, Musk is still the world’s second richest person.
Elon Musk has been distracted by his takeover of twitter. The transaction weighed on the stock due to the speculation that it could sell more of tesla shares.
The Tesla stocks were closed at 65% loss . There has been lot of challenges faced by tesla . There has been rising cost issues , competitive threats , and the risk that a recession will slow the demand . Also, there is a threat of other companies launching electric vehicles in the coming time.
About Masayoshi Son.
Getting to know a little about Masayoshi Son , he is a Korean-Japanese billionaire investor, financer, technology entrepreneur. He also lost his personal wealth from $78 billion in February 2000 to $19.4 billion in July ,the same year , the value of his tech conglomerate , Softbank , was wiped out by dot-com trash.