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Elon Musk received Guinness record for a reason he didn’t want to have: the greatest loss of personal wealth in history.
According to the organization, Elon Musk it has lost “roughly $182 billion” since November 2021, Forbes estimates, though other sources suggest the figure is as high as $200 billion.
record holder
The Guinness Book of Records notes that the losses Elon Muskin any case far exceed the $58.6 billion lost by tech investor Masayoshi Son in 2000. The Japanese lost from $78,000 to $19,400 million after his shares in Softbank fell.
The drop in Musk’s fortune was due to the fall in Tesla shares in 2022: for this reason, they fell from a maximum of 320 billion to 138 billion. Most of the state Elon Musk He is pegged to these shares, which have fallen 65% in value in 2022, especially due to the millionaire’s “obsession” with buying Twitter.
“Long-term fundamentals are extremely strong. Short-term market frenzy is unpredictable,” Musk tweeted after the market closed on December 30, 2022.
In the face of the fall, Musk was also stripped of his “richest man in the world” title, giving way to Bernard Arnault (France), founder of luxury goods conglomerate LVMH (Louis Vuitton Moët Hennessy), whose net worth is estimated at $190 billion.
millionaires out of balance
The organization makes it clear that all billionaires have a highly volatile and volatile net worth.
This is because most of your wealth is usually associated with stocks and investments that fluctuate in the market. This is doubly true of self-made billionaires like Musk or former record holder Masayoshi Son, because their net worth is usually determined almost entirely by the market value of the company they founded.
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Source: RPP
I am Ben Stock, a passionate and experienced digital journalist working in the news industry. At the Buna Times, I write articles covering technology developments and related topics. I strive to provide reliable information that my readers can trust. My research skills are top-notch, as well as my ability to craft engaging stories on timely topics with clarity and accuracy.