American millionaire and owner of Tesla Motors Elon Musk has set a new world record in decline f wealth, according to information from Guinness World Records.
This information indicates that between November 2021 and December 2022 Musk has lost approximately USD 165 billion. The data is based on information from Forbes magazine. Guinness explains that other sources suggest that Musk’s overall losses may be even higher than that.
Losses are a result of Tesla shares dropping in value after the purchase of Twitter.
After Twitter’s purchase investors became concerned that Musk will no longer focus on Tesla as much. The value of Tesla shares dropped by approximately 65% last year.
In December Musk lost 1st place in Forbes’ list of the world’s richest people to French luxury goods LVMH manager Bernard Arnault. The magazine estimates that Musk’s wealth is at approximately USD 178 billion, whereas that of Arnault is at USD 188 billion.
Also read: Musk has turned the Twitter office into staff’s hotel