Monitoring Desk
ISLAMABAD/LONDON: Elon Musk has broken the world record for the largest loss of personal wealth in history
The multi-billionaire lost around $165 billion From November 2021 to December 2022, according to Guinness World Records.
The figures are based on data from business publisher Forbes, but other sources suggest that Musk’s losses could have been higher, Guinness said in a blog on its website.
Twitter chief’s personal fortune
The losses in Musk’s personal fortune follow a decline in value of shares in his electric car firm Tesla after the billionaire bought Twitter last year.
Investors concerned amid Musk’s Twitter purchase
Musk’s acquisition of the social media firm for $44bn has raised concerns among investors that he is no longer paying enough attention to Tesla.
His losses in fortune since November 2021 surpassed the previous record of Japanese tech investor Masayoshi Son who lost $58.6bn of his personal worth in 2000.
The estimated loss has been derived from the value of Musk’s shares, which could regain their value, meaning his wealth would increase again.
