Up in Smoke: Elon Musk Breaks Guinness World Record for ‘Worst Loss of Fortune’Lucas Nolan 14 Jan 2023
Tesla CEO, Twitter owner, and self-promoter Elon Musk has broken the world record for “worst loss of fortune,” according to Guinness World Records.
The Washington Post reports that according to Guinness World Records, Elon Musk, the tech billionaire and CEO of Tesla, has experienced the “worst loss of fortune in history.” Data from Forbes and the Bloomberg Billionaires Index states that between November 2021 and January 2022, Musk lost about $200 billion. The previous record was held by Japanese billionaire Masayoshi Son, CEO of SoftBank, who lost $58.6 billion during the 2000 tech stock crash. Taking inflation into account, that loss would be equivalent to about $100 billion today.
The loss occurs in the wake of Musk’s $44 billion acquisition of Twitter, where he fired thousands of employees. Investors in Tesla, the electric vehicle manufacturer that Musk owns, have expressed concern as a result, saying that he is wasting too much time trying to improve Twitter at the expense of Tesla. Tesla stock has lost 39 percent of its value since December 1, 2022.
Calculating a person’s net worth at a particular moment in time can be challenging as external factors like market conditions or governmental policy can cause significant fluctuations in the value of a stock that is tied to an entrepreneur’s net worth to occur quickly.
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https://www.breitbart.com/tech/2023/01/14/up-in-smoke-elon-musk-breaks-guinness-world-record-for-worst-loss-of-fortune/
