The Guinness book of records has officially named Tesla CEO Elon Musk as the first man in history to break the world record for the largest loss of personal fortune in history.
In a report published on its website, the Guinness book noted that Musk has lost approximately $182 billion (£153B; €173B) since November 2021.
The report also revealed that Musk’s total losses far surpass the previous record of $58.6 billion, set by Japanese tech investor Masayoshi Son in 2000.
Forbes also on its website reported that Musk’s net worth dropped from a peak of $320 billion in 2021 to $138 billion as of January 2023, largely due to the poor performance of Tesla’s stock.
Musk billionaire ranking drops
Musk’s troubles also cost him the title of world’s richest person, which now belongs to Bernard Arnault (France), creator of luxury goods group LVMH (Louis Vuitton Mot Hennessy), who has an estimated net worth of $190 billion (£156 billion; €177 billion).
The majority of Elon Musk’s money is invested in Tesla shares, the value of which have dropped by 65% in 2022.
This worrying decrease intensified in October, when Musk paid $44 billion (£37 billion; €42 billion) for Twitter.
Also, the messy takeover, along with Musk’s divisive conduct on the platform, triggered the greatest Tesla stock sell-off since the firm went public in 2010.
Despite the drop in profit, Tesla is still the most valuable car business in the world, with a market valuation $100 billion more than Toyota.
Nigerian man buys Elon Musk’s Starlink, shares experience, cost
Meanwhile, in another report, a Nigerian man has successfully imported Elon Musk’s Starlink network and has shared his experience.
The new network will battle it out for data subscribers with MTN, GLO, and other telecommunication companies.
The Starlink network is said to provide faster internet speed, and will also have a wider reach.