He’s one of the richest people in the world (and sometimes THE the richest), but billionaire Elon Musk also knows how to lose money – and he’s breaking records for it.
According to Guinness Book of World Recordsthe owner of Twitter has officially lost the most money in history – roughly between $182 billion and $200 billion (or more) of his personal fortune since November 2021.
Musk net value As of Monday afternoon, he was estimated at $187 billion, according to Bloomberg’s Billionaires Index, making him the second richest person in the world behind LVMH chairman Bernard Arnault.
Musk was dethroned of the top spot by Arnault last December after Musk’s whiplash purchase of Twitter for an estimated $44 billion, which led him to sell about $15 million of his own Tesla stock months earlier in order to finance the acquisition.
The previous record for most personal wealth loss was held by Japanese investor Masayoshi Son, who set the record in 2000 after losing $58.6 billion on his investments.
By ForbesMusk’s highest net worth was $320 billion at the height of his companies’ (notably Tesla) performance in 2021 before hitting his all-time high of $138 billion in January.
Tesla is estimated to have lost more than 65% of its valuation last year.
However, things may be looking up for the electric car company.
Monday, the company revealed that deliveries increased by 35% during the first quarter of 2023 compared to the same period last year, mainly thanks to price cuts on vehicles.
Tesla’s full first-quarter earnings are expected to be released later this month.
You’re here was broken down just under 50% year-on-year late Monday afternoon.