‘First in history’: Guinness book of records recognises Elon Musk’s wealth loss

Elon Musk has established a Guinness Worldwide best for the biggest loss of private property ever.

Guinness declared last week that Musk has lost about $182 billion of his total assets since November 2021, refering to Forbes.

Guinness says some estimates put the damage at up to $200 billion. Before him, the record was held by Japanese tech financial backer Masayoshi Child, who lost $58.6 billion out of 2000.

According to Forbes, Musk’s net worth fell to $195.6 billion in November, reaching the lowest level of that year.

Earlier in October 2021 it saw a major decline when it fell below $200 billion.

His net worth is still pegged at $145.2 billion, according to Forbes’ real-time rankings, but the exact figure is impossible to know, as the wealth is based on assets such as stocks and homes.

Bernard Arnault, the founder of luxury goods conglomerate LVMH, now holds the title of the world’s richest person with an estimated net worth of $204.8 billion.

While Musk’s income diminished, Arnault’s profit expanded by $347 million. Musk’s net worth has declined significantly due to the poor performance of Tesla’s stock.

According to Guinness, this will decline by 65% in 2022. The Twitter acquisition cost them a dime.

In August he sold nearly 8 million Tesla shares worth $7 billion as a legal battle with Twitter ensued.

Twitter sued Musk to implement the particulars of their procurement understanding after Musk attempted to withdraw.

Musk then alleged that the company had breached the contract and violated securities laws.

A judge put the case on hold to close the deal, and in October, Musk officially acquired the company for $44 million.

They sold $4 billion in stock to close the gap on the deal, according to Wedbush analysts, even though they said it was “selling Tesla stock”.

He sold 19.5 million Tesla shares worth $3.9 billion in three days, according to a filing with the Securities and Exchange Commission, reports Forbes.

As per Guinness, Tesla actually stays the most significant vehicle organization on the planet.

At the point when the market shut for the year on December 30, Musk tweeted: Long haul basics are areas of strength for incredibly. Transient market wildness is erratic.

According to Guinness, Masayoshi Son, who held the record before Musk, fell from $78 billion in February 2000 to $19.4 billion in July of the same year after his company.

His net worth skyrocketed to over $5 billion in one day, but the softback bounced back and acquired several American and British tech companies and is now worth $23.7 billion according to Forbes.

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