Twitter owner and Tesla CEO Elon Musk joined the “Guinness World Records” for having the “greatest loss of personal fortune in history”. THE Guinness used Forbes estimates that the billionaire lost at least $182 billion from November 2021 to January 2023. richest person in the world and now he’s in 2nd in ranking.
Musk surpassed Japanese investor Masayoshi Son’s record loss in the 2000s, which accounted for a loss of US$ 58.6 billion. This value reached by the Japanese would be equivalent to $100 billion in 2023.
Musk’s wealth is now second only to Frenchman Bernard Arnault, founder of luxury goods conglomerate LVMH (Louis Vuitton Moët Hennessy), who has an estimated net worth of $190 billion.
Forbes attributed Musk’s record to Tesla’s stock performance.
The billionaire bought Twitter for $44 billion on October 27, 2022. Since then, he has been selling Tesla shares. On December 15, 2022, the billionaire sold more than $3.5 billion worth of company stock. It was the 2nd time that the owner of the electric car company disposed of shares since the purchase of the social network.
At the same time, the automaker records its worst annual share price performance, with a drop of around 55% in 2022. In November, the businessman had already sold US$ 3.74 billion in Tesla shares. Musk accounted for about 13.4% of the company in December and is still the largest shareholder.
According to the Bloomberg NewsTesla shares have lost 39% of their value since December 1, 2022. Guinness says that “despite the decline in prosperity, Tesla remains the most valuable automobile company in the world, with a market value in excess of $100 billion more than its closest competitor, Toyota”.
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