Elon Musk breaks world record for largest-ever loss of personal fortune

Elon Musk breaks world record for largest-ever loss of personal fortune

The loss is largely attributed to the drop in Tesla stock value.

Elon Musk, the billionaire tech magnate and new owner of Twitter, broke a new dubious record of the largest loss of personal fortune. Musk has lost around $182 billion of personal wealth since 2021. Some sources indicate that the loss figure is close to around $200 billion.

After Amazon's Jeff Bezos, Musk was the second-only person with more than $200 billion in "personal fortune", a figure he achieved in January 2021. 

How much net worth has Elon Musk really lost?

Elon Musk's net worth dropped from $320 billion in November 2021 to $137 billion as of January 2023. This loss has resulted in breaking of the world record for the largest-ever loss of personal fortune. The previous record for largest-ever loss of personal fortune was held by Japanese tech investor Masayoshi Son in 2000. 

What led to Musk's biggest-ever loss of personal fortune?

The loss is largely attributed to the drop in Tesla stock value. Reports suggest that Musk sold around $7 billion worth of Tesla stock to finance his buyout of Twitter, with another $4 billion in November. He further sold $3.58 billion worth of stock, bringing his total sell-off close to $23 billion.

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Elon Musk's decline in personal fortune was coupled with a massive 11 per cent fall in Tesla shares on December 27. 

The hostile takeover of Twitter was coupled with Musk's polarising behaviour on the micro-blogging platform. This was cited as a reason for biggest-ever sell off of Tesla shares ever since the company went public in 2010. 

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