Shulou(Shulou.com)11/24 Report--

CTOnews.com, January 9, the Guinness Book of World Records officially announced that Elon Musk (South Africa) officially broke the world record for the largest loss of personal wealth in history.

Forbes estimates that since November 2021, he has lost about $182 billion (currently about 1.25 trillion yuan), although other sources suggest it may actually be close to $200 billion (currently about 1.37 trillion yuan).

Although the exact figure is almost impossible to determine, Musk's total loss far exceeds the record of $58.6 billion (currently about 401.41 billion yuan) set by Japanese technology investor Masayoshi son in 2000.

As of January 2023, Musk's net worth fell to $138 billion from a peak of $320 billion in 2021, largely due to the poor performance of Tesla shares, according to Forbes.

CTOnews.com learned that Musk tweeted after the market closed on December 30, 2022: "long-term fundamentals are very strong and short-term market madness is unpredictable."

Musk's new record has also deprived him of his status as the world's richest man, who is now Bernard Arnault (France). He is the founder of luxury goods group LVMH, with an estimated net worth of $190 billion (currently about 1.3 trillion yuan).

Most of Mr Musk's wealth is related to Tesla shares, which tumbled 65 per cent in 2022.

The decline in the share price accelerated after Mr Musk bought Twitter for about $44 billion. The tumultuous acquisition, coupled with Mr Musk's polarizing behaviour on the platform, triggered the biggest sell-off in Tesla shares since the company went public in 2010.

Despite the plummeting share price, Tesla remains the world's most valuable car company, with a market capitalization $100 billion higher than that of its nearest rival Toyota. Moreover, although Musk has lost more money than anyone else in history, he is still the second richest man in the world.

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