Guinness World Records: Elon Musk claims title of 'largest loss of personal fortune'
Twitter and Tesla CEO's net worth has reportedly dropped over $180B since November 2021
Elon Musk's 'chaotic' Twitter takeover muddles his mission: Eric Hippeau
Lerer Hippeau managing partner Eric Hippeau discusses Elon Musk's long-term vision for the social media platform on 'The Claman Countdown.'
The Guinness World Record for "largest loss of personal fortune" now belongs to Twitter and Tesla CEO Elon Musk, the record-keeper said Friday.
Earlier last week, Forbes reported Musk's estimated net worth declined 57% from $320 billion in Nov. 2021 to $137 billion on Jan. 3. That works out to a $180 billion loss.
The previous record, set over two decades ago, belonged to SoftBank CEO Masayoshi Son. He lost $58.6 billion during the 2000 dot-com bust, according to Guinness.
ELON MUSK NO LONGER WORLD'S RICHEST PERSON
Elon Musk attends the 2022 Met Gala at The Metropolitan Museum of Art on May 2, 2022, in New York City. (Photo by Dimitrios Kambouris/Getty Images for The Met Museum/Vogue) (Dimitrios Kambouris/Getty Images for The Met Museum/Vogue / Getty Images)
Bloomberg previously reported in December that Musk's net worth had dipped $200 billion from November of the prior year, making him the first person to have such a loss from his net worth.
Musk’s setting of a new record for "largest loss of a personal fortune" comes not long after he slid to the No. 2 position on Forbes’ real-time billionaires list. Bernard Arnault, the CEO of French luxury giant LVMH, has held the top spot since mid-December with an estimated $200.1 billion net worth as of press time.
ELON MUSK BECOMES FIRST PERSON TO LOSE $200 BILLION: REPORT
Tesla stock
Tesla
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 320.72 | +9.54 | +3.07% |
Much of Musk's wealth is tied to Tesla. Musk is the company’s largest individual shareholder, owning an approximately 14% stake.
Shares of the electric vehicle and clean energy company fell 56% during the period measured by Guinness. Shares closed at $243.26 on Jan. 4, 2021 and $108.10 on Jan. 3, 2023.
Over the past year, Tesla's stock price has fallen over 66%.
Musk became Tesla’s CEO back in 2008. In addition to helming the electric vehicle and clean energy company, the billionaire serves as CEO of SpaceX and Twitter. Musk also co-founded Neuralink, OpenAI and The Boring Company.
MUSK DROPS HINTS ABOUT SEVERAL UPCOMING TWITTER ENHANCEMENTS, INCLUDING 4,000-WORD TWEETS
Tesla CEO Elon Musk (Reuters/Michele Tantussi/File Photo / Reuters Photos)
He became Twitter’s chief executive in late October when he completed his $44 billion acquisition of the social media company following a lengthy legal battle. He has, however, indicated he plans to find someone else to helm Twitter.
At the time of publication, Musk’s net worth was down about $1.1 billion from 5 p.m. Eastern the prior day, coming in at roughly $143.2 billion, according to Forbes.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Elon Musk must stop using Tesla as his own ‘ATM machine’: Dan Ives
Wedbush Securities managing director Dan Ives breaks down the several infrastructure adjustments Tesla CEO Elon Musk should take following the stocks’ catastrophic year.