Elon Musk is back in the news, but this time it is not about Tesla or Twitter. Musk, who is no longer the world's richest person, broke the Guinness World Record for biggest loss of personal wealth in history.
Forbes recently estimated Musk's net worth had eroded by $183 billion in just over a year, while Bloomberg placed the estimate at $200 billion.
Musk's net worth peaked in November 2021, when it reached $340 billion, according to Bloomberg estimates. But Tesla shares, responsible for most of Musk's wealth, entered a free fall last year, dropping 65% in 2022. Tesla shares' drastic fall picked up pace after Musk bought Twitter in October.
Before Musk, the previous record for personal fortune wiped out, was much lower at $58.6 billion, was set by Softbank founder and CEO Masayoshi Son in 2000.