Elon Musk breaks world record for amassing the largest losses in history after £135billion is wiped off his wealth

     

 

Elon Musk has broken the world record for amassing the largest losses to his personal fortune in history, wiping £135billion off his wealth between November 2021 and December 2022, according to Guinness World Records.

 

The bad news comes after the share value in Musk’s electric car firm Tesla crashed by around 65 percent after he bought Twitter last year, a move that spooked investors.

 

The losses surpass the previous record of £47billion by Japanese tech investor Masayoshi Son in 2000.

 

In December, Bernard Arnault overtook Musk as the world’s richest person. The figures were based on those available from publisher Forbes.

 

Guinness said Musk’s true losses could be higher than the figure given. His £36bn takeover of Twitter sparked concerns among investors Mr. Musk was not paying enough attention to Tesla.

 

The estimated loss is based on the value of his shares, which could regain their value. The value of Tesla shares dropped around 65 percent in 2022.

 

Mr. Musk is now worth about £152bn, according to Forbes. Mr. Arnault has an estimated value of £155bn.