Musk sets a new record and loses the most personal wealth in human history

Formerly the richest man in the world, Elon Musk has now lost the most money personally of any person in history, breaking the previous record.

Since November 2021, Musk has lost over $182 billion, according to Guinness World Records. In any case, the loss has overtaken the previous record holder, Japanese tech billionaire Masayoshi Son, who lost $58.6 billion in 2000. Other estimates have the losses, which were mostly fuelled by a decline in Tesla stock, closer to $200 billion.

Musk lost his status as the richest person in the world back in December due to the decline in Tesla shares, which experienced a value decrease of around 60% in 2022. According to Forbes, he presently has a personal net worth of $146 billion, which is more than $50 billion less than Bernard Arnault, the CEO and co-founder of LVMH Mot Hennessy Louis Vuitton. At this time, Arnault is thought to be worth $203.8 billion.

Much of Musk’s wealth is correlated with Tesla stock performance, so if Tesla share performance increases, it could increase once more. The company didn’t produce as many cars in 2022, falling short of Wall Street projections and contributing to the latest decline.

With an eight-car pile-up purportedly caused by a Tesla in full self-drive mode, the year does not seem to be improving so far. This comes only hours after Elon Musk declared that everyone in North America who desired the function may get it.

Tesla Full Self-Driving Beta is now available to anyone in North America who requests it from the car screen, assuming you have bought this option.

Congrats to Tesla Autopilot/AI team on achieving a major milestone!

— Elon Musk (@elonmusk) November 24, 2022