Elon Musk Sets Guinness World Record for Biggest Misfortune

Elon Musk has set one other Guinness world file, albeit not a fascinating one. The billionaire entrepreneur, after rising because the world’s richest particular person in September 2021, turned the primary particular person in recorded historical past to lose $200 billion in wealth after Tesla’s shares fell 65 % in 2022.

The CEO of Tesla, SpaceX and Twitter is at the moment value $137 billion. Bloomberg Billionaires IndexIt fell from $340 billion in November 2021. he was the richest person in the world; now, he is second solely to Bernard Arnault, founding father of luxurious items group LVMH (Louis Vuitton Moët Hennessy), with an estimated web value of $190 billion.

The big wealth Musk misplaced Guinness World Data for the “best lack of private wealth”. Whereas it is practically inconceivable to pinpoint the extent of the wealth Musk has misplaced since November 2021 – forbes It estimates $182 billion – its complete loss far exceeded the earlier file of $58.6 billion set in 2000 by Japanese tech investor Masayoshi Son.

Elon Musk speaks at Cyber ​​Rodeo with Tesla Model Y in the background

Son’s web value fell from a peak of $78 billion in February 2000 to $19.4 billion in July of the identical yr, and tech firm Softbank’s worth was worn out within the dot-com collapse. The scenario at Softbank was so unstable on the time that Son’s web value generally fluctuated as a lot as $5 billion in someday.

Ultimately Softbank grew stronger by buying a number of US and British tech corporations within the following years and noticed Masayoshi Son’s fortunes decide up. The identical factor might occur to Elon Musk, who continues to start out his personal tech firm. Guinness World Data notes.

Regardless of massive share price dropTesla stays the world’s most dear vehicle firm, with a market worth of $375 billion as of January 9, 2023. Tesla’s market capitalization is roughly $150 billion larger than Toyota, which is the second largest automaker when it comes to market capitalization.

Elon Musk is assured tesla nicely positioned for the long run regardless of the market’s unpredictability in latest months. “Lengthy-term fundamentals are extraordinarily robust. Quick-term market frenzy is unpredictable,” he tweeted on December 30, 2022.

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