Elon Musk has broken the world record for the largest loss of personal fortune in history
From November 2021 to December 2022 he lost around 165bn, Guinness World Records said in a blog on its website
The figures are based on data from publisher Forbes, but Guinness said other sources suggested Mr Musk’s losses could have been higher
It follows a fall in the value of shares in Mr Musk’s electric car firm Tesla after he bought Twitter last year
His 44bn £36bn takeover of the social media company has sparked concerns among investors that Mr Musk is no longer giving Tesla enough attention
Mr Musk’s losses since November 2021 surpass the previous record of 586bn £47bn, suffered by Japanese tech investor Masayoshi Son in 2000
The estimated loss is based on the value of his shares, which could regain their value, meaning Mr Musk’s wealth would increase again
In December, the Tesla boss lost his position as the richest person in the world to Bernard Arnault, the chief executive of French luxury goods company LVMH, which owns the fashion label, Louis Vuitton
The value of Tesla shares dropped around 65 in 2022, in part because of Tesla’s performance The firm delivered just 13 million vehicles during the year, falling short of Wall Street expectations
However, Mr Musk’s takeover of Twitter where he has sparked controversy by firing large staff and changing content moderation policies is behind most of the share slump Many Tesla investors believe he should be focusing on the electric vehicle company as it faces falling demand amid recession fears, rising competition and Covid-linked production challenges
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