Elon Musk breaks World Record for largest loss of personal wealth

Elon Musk bought Twitter for $44 billion last year and was the wealthiest person in the world. However, after his takeover of Twitter and the tumultuous actions that followed, the business mogul's wealth was reduced by a whopping $200 billion, and he became the first person in history to lose such a massive amount.

Now, Elon Musk is back in the headlines after being recognized by Guinness World Records for breaking the world record for the most money lost in history. A press release from the organization confirmed the same, stating, "Although the exact figure is 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."

Elon Musk breaks world record

The Guinness World Records press release further states that earlier, the record was held by Japanese tech investor Masayoshi Son, who had lost $56 billion. "Although it is almost impossible to determine the exact figure, Musk's total losses far exceed the earlier record of $58.6 billion, set by Japanese technology investor Masayoshi Son in 2000," the press release reads.

Tesla stock crash

Much of Musk's fortune is tied up in Tesla stock. The businessman was one of the first investors in the company and eventually went on to own the largest shares in the automobile company. In July 2003, the electric car brand was founded as Tesla Motors by Martin Eberhard and Marc Tarpenning. In 2004, Musk became the company's largest shareholder by investing a whopping $6.5 million. He then assumed his role as the company's chief executive officer and product architect in 2008.

Tesla shares began to plummet in 2022 and hit their most significant annual drop the same year. In such turbulent times, Musk reportedly emailed all Tesla employees telling them not to worry about "stock market madness."

Musk Acquisition on Twitter

When Elon Musk bought Twitter, no one saw what was coming. From firing high-level company executives within hours of taking up their new role to engaging in social media disputes with ex-employees, sending distressing company-wide emails, and making changes to the company's day-to-day operations, Musk occasionally made headlines. So, Twitter was no longer the workplace it used to be, and most of Twitter's workforce was laid off or quit.