Elon Musk appears to have broken the world record for the greatest loss of personal wealth in history.
From November 2021 to December 2022, he lost around $165 billion, according to Guinness World Records in a blog on its website.
The figures are based on data from publisher Forbes, but Guinness said other sources suggested Mr Musk’s losses may have been higher.
It follows a fall in the value of shares in Mr Musk’s electric car company Tesla after he bought Twitter last year.
His $44bn (£36bn) takeover of the social media company has sparked concerns among investors that Mr Musk is no longer paying enough attention to Tesla.
Mr Musk’s losses since November 2021 could surpass the previous record of $58.6bn (£47bn) suffered by Japanese tech investor Masayoshi Son in 2000.
The estimated loss is based on the value of his shares, which could regain their value, meaning Mr Musk’s wealth would rise again.
- Elon Musk is selling billions of Tesla shares
- Elon Musk is no longer the richest man in the world
In December, the Tesla boss lost his position as the world’s richest person to Bernard Arnault, head of the French luxury goods group LVMH, which owns the fashion label Louis Vuitton.
The value of Tesla stock fell about 65% in 2022, in part due to Tesla’s performance. The company delivered just 1.3 million vehicles during the year, falling short of Wall Street expectations.
But Mr Musk’s takeover of Twitter — where he has stirred controversy by laying off large numbers of employees and changing content moderation policies — is responsible for most of the stock’s plunge.
Many Tesla investors believe he should focus on the electric vehicle company as it faces falling demand amid recession fears, increased competition and Covid-related manufacturing challenges.
“Long-term fundamentals [at Tesla] are extremely strong. Short term market madness is unpredictable,” Mr Musk tweeted after stock markets closed for the year in December 2022.
Mr Musk is now worth about $178 billion (£152 billion), according to Forbes, while Bernard Arnault is worth an estimated $188 billion (£155 billion).
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