Elon Musk sets new world record… for the biggest loss of personal fortune

He always wanted to make history, but perhaps not this way.

Elon Musk has broken the world record for amassing the largest losses to his personal fortune in history – wiping £135billion ($165billion) off his wealth between November 2021 and December 2022, according to Guinness World Records.

It comes after the share value in Musk’s electric car firm Tesla crashed by around 65 per cent after he bought Twitter last year, a move that spooked investors.

The losses surpass the previous record of £47billion by Japanese tech investor Masayoshi Son in 2000.

Elon Musk has broken the world record for amassing the largest losses to his personal fortune in history, according to Guinness World Records. Pictured: Musk in Los Angeles, California, June 13, 2019

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In December, Bernard Arnault overtook Musk – now worth around £152billion – as the world’s richest person.

The figures were based on those available from publisher Forbes.

Guinness said Musk’s true losses could be higher than the figure given.

His £36bn takeover of Twitter sparked concerns among investors Mr Musk was not paying enough attention to Tesla.

the estimated loss is based on the value of his shares, which could regain their value.

His £36bn takeover of Twitter sparked concerns among investors Mr Musk was not paying enough attention to Tesla. Pictured: Musk in Norway, August 29, 2022

The value of Tesla shares dropped around 65 per cent in 2022.

Mr Musk tweeted after the close of the stock markets in December: ‘Long-term fundamentals [at Tesla] are extremely strong. Short-term market madness is unpredictable.’

Mr Musk is now worth about £152bn, according to Forbes. Mr Arnault has an estimated value of £155bn.