Elon Musk, the CEO of Tesla, took his name into the Guinness World Record as the largest loss of personal fortune in history.
Citing data from Forbes, Guinness World Records noted that “the exact figure [of Musk’s loss] is almost impossible to ascertain,” and other outlets estimate his loss could be nearly $200 billion.
The main reason is pointed to a steep drop of his Tesla shares, which lost about 65% of their value while the company had its worst year ever.
The loss stripped him from the title of world’s richest person as Bernard Arnault took his place.
Of course, Musk isn’t the only billionaire who lost their fortunes due to market turmoil. Another Japanese billionaire investor, Masayoshi Son, lost $58.6 billion in 2000, CEO Mark Zuckerberg lost $78 billion; and Amazon founder Jeff Bezos lost $80 billion in 2022; Bezos’s loss was the largest loss, not Musk’s.
Musk’s fortune in late 2021 was as high as $320 billion. Forbes estimated that as of January 10, his net worth is $142.1 billion, which could make him the No. 2 richest person in the world.