- LATEST
- WEBSTORY
- TRENDING
WORLD
Elon Musk breaks Guinness World Record for biggest loss of personal wealth in history
Elon Musk surrendered a significant portion of his Tesla ownership and paid USD 44 billion for Twitter last year.
Updated : Jan 10, 2023, 01:04 PM IST | Edited by : Maitry Kothari
 "Elon Musk breaks Guinness World Record for biggest loss of personal wealth in history")
TRENDING NOW
)
When Dhirubhai Ambani called India's richest man Mukesh Ambani back mid-MBA from abroad, gave him unconventional 'teacher of the world'
)
Mukesh Ambani joined Reliance in 1981, Anil Ambani in 1983, latter became world's 6th richest person but then slipped, his current net worth is...
)
Meet man who helped Mukesh Ambani's son Anant Ambani lose 108 kilos, he charges Rs...
)
Son gives up hope on engineering as he skips IIT JEE Main, his father's response melts hearts online: 'BTech is...'
)
Vinesh Phogat's net worth was only Rs 5 crore before Paris Olympics, her net worth jumped to Rs..., after she decided to...
)
This actor, Zeenat Aman's hero, missed out on many films due to his looks, never became superstar, once sold household goods to make ends meet, his name is..
)
SRH owner Kavya Maran buys star RCB cricketer in middle of IPL 2025, the cricketer is..., he is from...
)
April 17 is important day for Infosys employees as Narayana Murthy's company will announce..., set to affect...
)
Burj Khalifa in Dubai is tallest building in world, but do you know which is India's tallest? Not Mukesh Ambani's Antilia, it is..., its height is...
)
Baba Vanga prediction: Muslim rule in 44 nations by..., are India, Nepal on the list?
Elon Musk is one of the most well-known business tycoons in the world today. Musk is well-known for a variety of things, including being the CEO of Twitter, the owner of Tesla, and his contentious political opinions. The new Twitter CEO has set a record in the Guinness World Record (GWR) for the biggest loss of personal wealth in history. The firm has stated in a blog post that Forbes estimated Mr Musk had lost about $182 billion since November 2021 but added that some estimates suggest the loss may have been closer to $200 billion.
Musk’s cumulative losses are almost impossible to ascertain, Musk's total losses far surpass the previous record of $58.6 billion, set by Japanese tech investor Masayoshi Son in 2000, according to the press release released by Guinness World Records.
Tesla shares hold a significant portion of Musk's personal wealth. The businessman contributed to the company's early funding and eventually came to own the largest stake in the automaker.
(Also Read: Prince Harry’s autobiography ‘Spare’: 5 major revelations about Prince William, Meghan Markle, Royal Family)
Martin Eberhard and Marc Tarpenning established Tesla Motors, a manufacturer of electric vehicles, in July 2003. By making a massive USD 6.5 million investment in the company in 2004, Musk rose to the position of the majority stakeholder. In 2008, he then began serving as the company's CEO and product architect.
Despite suffering enormous financial losses, Musk is still the second-richest person in the world. The most valuable automaker globally is still Tesla.
In April and August 2022, Musk sold Tesla shares with a combined market value of USD 15.4 billion. He had stated that no "further sales were planned" at the time. Musk did, however, sell a further 19.5 million Tesla shares in November 2022 for nearly $4 billion.
The organisation also noted that this alarming decline accelerated in October after Mr Musk bought Twitter for roughly $44 billion.
Son launched Softbank in 2000, and because of the unstable environment there, his net worth fluctuated by as much as $5 billion in a single day.
