By Andrea Hargraves 
Elon Musk kicked off the year by breaking a Guinness World Record: Biggest Money Loss Ever.
The CEO of Tesla and Twitter lost so much money last year that he managed to break the world record for the “largest loss of personal wealth in history,” according to a statement from Guinness World Records.
It is not known how much money Musk lost, but Forbes recently estimated it Musk’s net worth has fallen by $183 billion (about €170 billion) in just over a year. bloomberg It raises the estimate to $200 billion (€186 billion).
Musk’s net worth peaked in November 2021, when it reached $340 billion (€316 billion). However, Tesla shares, which account for most of Musk’s wealth, have been in a free fall, dropping 65% in 2022. The sharp decline in After Musk bought Twitter in October. With a fortune estimated at 174.5 billion euros, Musk is no longer the richest person in the worldHe lost the title to Bernard Arnault, CEO of the French company that owns Louis Vuitton, and whose net worth is estimated at $190 billion (€177 billion).
The net worth of millionaires is much more volatile than the wealth of a person earning an average income. This is because most of the wealth of millionaires takes the form of stocks and investments. As the market valuation of these investments fluctuates, so does the owner’s apparent wealth.
The previous record, a loss of $58.6 billion (€54.6 billion), was set in 2000 by Softbank founder and CEO Masayoshi Son.