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
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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.
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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.
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Tesla stock
| 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.
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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.
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