New Delhi: Elon Musk has officially entered the Guinness World Record for becoming the first person to lose the largest individual loss in history. They have lost around $182 billion (£153B; €173B) since November 2021, as estimated by Forbes, although other sources suggest it may actually be closer to $200 billion, according to Guinness World Records.
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According to media reports, tech billionaire Elon Musk has become the world’s first person in all-time history to lose more than $200 billion in wealth. The steepest decline this year came when shares of Musk-owned electric car maker Tesla plunged more than 11% from their value on the full year.
Musk’s wealth once reached a peak of 340 billion in November 2021. Since then it has been showing a steady decline.
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It should be noted that he was the second person in history to cross the $200 billion mark after Amazon founder Jeff Bezos. Musk achieved this milestone in 2021 which was attributed to a dramatic jump in the value of Tesla shares.
LVMH owner Bernard Arnault has become the world’s richest person earlier this month, overtaking Elon Musk.
What is the reason for the fall in the price of Tesla shares?
Elon Musk bought the popular microblogging site Twitter this year for a whopping $44 billion. The Twitter saga with Elon Musk has spread throughout the year since he proposed the deal earlier this year. Finally, they had to complete the deal by the end of October after facing legal pressure.
Tesla shareholders lost confidence in Elon Musk because they believed the Twitter acquisition had alienated Musk from the company.