According to Guinness World Records, Elon Musk has set the world record for the biggest losses to his personal fortune in history, wiping £135 billion off his worth between November 2021 and December 2022.
The bad press comes after Musk’s electric car company Tesla’s stock dropped by about 65 percent when he purchased Twitter last year, which alarmed investors.
The losses surpass the previous record of £47billion by Japanese tech investor Masayoshi Son in 2000.
Bernard Arnault surpassed Musk as the world’s richest person in December. The data were based on those provided by publisher, Forbes.
According to Guinness, Musk’s true losses might be larger than the sum disclosed. Investors were concerned by his £36 billion buyout of Twitter. Mr. Musk was not giving Tesla enough attention.
The anticipated loss is based on the value of his shares, which may recover. In 2022, the value of Tesla shares fell by around 65 percent.
According to Forbes, Mr. Musk is now worth around £152 billion. Mr. Arnault’s net worth is estimated to be £155 billion.
Mr. Bernard Arnault is a French business magnate, investor, and art collector. He is the co-founder, chairman, and chief executive officer of LVMH Moët Hennessy – Louis Vuitton SE, the world’s largest luxury goods company.