According to Guinness World Records, Elon Musk, CEO of Tesla, has set a new record for the largest personal fortune loss.
In December 2022, Musk’s net worth dropped by an astounding $165 billion, with some sources suggesting the total could be closer to $200 billion.
This loss surpasses the previous record of $58.6 billion set by Japanese tech investor Masayoshi Son in 2000.
The significant drop in Musk’s net worth is attributed to poor performance of Tesla’s stock and his highly publicized $44 billion takeover of Twitter in October.
The acquisition and Musk’s polarizing behavior on the platform reportedly led to a major sell-off of Tesla stock, resulting in this historic loss.
Despite this, Musk remains the largest shareholder in Tesla, holding a 14% stake in the company.