Elon Musk has created a world record for the largest loss of personal fortune in history after holding the title of the world’s richest man for almost a year, according to Guinness World Record.
“And don’t worry, even though Musk has lost more money than any human in history, he won’t be going hungry any time soon – he’s still the world’s second-richest person,” the billionaire wrote in the blog post.
His net worth dropped from a peak of $320 billion in 2021 to $138 billion as of January 2023 due to poor performance of Tesla stocks.
Musk sold Tesla stocks worth $7 billion as he was trying to buy out Twitter in 2022 and the stocks ended up sliding 65 percent, according to Forbes
His net worth dropped below $200 billion in November 2022 as Tesla shares slid on worries that Musk was more focused on Twitter.
Musk, who held the top spot on the Forbes list since September 2021, started 2022 as planet’s richest person but lost the title to Bernard Arnault, founder of LVMH, who has an estimated net worth of $190 billion.
Other billionaires who have seen their fortunes decline include Microsoft’s Bill Gates, Amazon’s Jeff Bezos, Oracle’s Larry Ellison and Google’s Larry Page.
