Musk's net worth dropped…
On Friday, Guinness World Record (GWR) said, Elon Musk has secured a world record for the largest loss of personal fortune in history.
In a blog post, Mr. Musk had lost around $182 billion since November 2021 but noted that other sources indicate the figure is very close to $200 billion.
"Although the exact figure is not possible to ascertain, Elon Musk's total losses far surpass the previous record of $58.6 billion, set by Japanese tech investor Masayoshi Son in 2000," GWR wrote in its blog.
According to The Hill, Mr. Musk's net worth dropped from $320 billion in November 2021 to $137 billion as of January 2023, largely due to the poor performance of Tesla's stock.
The outlet reported that Mr. Musk sold $7 billion worth of Tesla stock as he was trying to finance his deal to buy Twitter and another $4 billion in November. Last month, he sold another $3.58 billion worth of stock, bringing his total sell-off to more than $23 billion since April.
"Elon Musk's misfortunes also snatched his position as the world's richest person.
Now, the richest person is Bernard Arnault (France), founder of luxury goods conglomerate LVMH (Louis Vuitton Moet Hennessy), who has an estimated net worth of $190 billion," GRW said.
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