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By losing IDR 2.8 trillion, Elon Musk breaks a world record


Elon Musk started 2023 breaking a world record. His name is recognized by Guinness World Record as the man who lost the greatest personal fortune in history.

“Elon Musk (South Africa) has officially broken the world record for the largest personal loss of fortune in history,” the Guinness World Record holder said in a blog post, as quoted by detikINET, on Wednesday (11/1/2023).

The Guinness World Record refers to a Forbes report that estimates that Musk lost $183 billion or about Rs. 2.8 trillion in just one year. However, Bloomberg’s estimate is much higher, namely $200 billion or about Rs. 3.1 trillion.

Musk’s personal fortune hit a breaking point in November 2021, when his fortune surpassed $340 billion thanks to the skyrocketing value of Tesla stock. Musk was quickly named the richest person in the world, a position he held for about a year.

Much like other billionaires, Musk’s wealth is heavily tied to his ownership of shares in the companies he controls. Musk’s biggest source of wealth is his stake Teslaof which it holds 14% and makes it the largest shareholder.

However, Tesla’s stock value will drop 65% in 2022, affecting Musk’s personal wealth. The decline also worsened after Musk bought Twitter for $44 billion in October 2022.

“The tumultuous takeover, coupled with Musk’s divisive behavior on the platform, has sparked the largest sell-off in Tesla’s stock since the company went public in 2010,” said the Guinness World Record.

After losing hundreds of billions of dollars, nothing Moss fall into poverty. Musk’s net worth is currently estimated at $138 billion, making him the second richest person in the world under LVMH boss Bernard Arnault.

The previous record for the largest loss of personal wealth in history was held by Softbank CEO Masayoshi Son. The Japanese billionaire lost $58.6 billion in 2000 as the dot-com bubble burst.

Watch a videoReasons why Tesla shares fell and lost IDR 3.1 trillion
[Gambas:Video 20detik]


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