Elon Musk breaks Guinness record for ‘burning money’

“Elon Musk has broken the world record for the most lost personal wealth in history,” Guinness World Records announced on January 6, 2023.

According to Business Insider (BI), billionaire Elon Musk was recently recognized by the Guiness record as the person who lost the most money in history, an award that few people wanted at the beginning of 2023.

“Elon Musk has broken the world record for the most lost personal wealth in history,” Guinness World Records announced on January 6, 2023.

While Forbes magazine estimated that Elon Musk lost about $183 billion of his fortune in the past year, Bloomberg news agency put the figure at around $200 billion.

Before Elon Musk, the person who set the record for losing the most personal wealth in the world belonged to Softbank CEO Masayoshi Son with $58.6 billion in 2000.

Elon Musk’s total wealth peaked in November 2021 at $340 billion, according to Bloomberg estimates, thanks to a sharp increase in Tesla’s share price. But when this stock price loses 65% of its value in 2022, Elon Musk also loses money because most of his wealth is in the form of Tesla shares.

This situation of losing money is even faster after Elon Musk pledged Tesla shares to make a $ 44 billion acquisition of Twitter. As a result, this billionaire lost his position as the richest person in the world to Bernard Arnault, the owner of a French group that owns many big fashion brands like Louis Vuitton.

According to the latest estimates of Forbes magazine, Elon Musk’s total fortune is currently only about 144.4 billion USD.

*Source: BI