Elon Musk He began his 2023 by sneaking into the illustrious Guinness World Records, but for a reason he’s not at all proud of: the owner of SpaceX and Tesla earned the title of “the greatest loss of personal fortune in history”.
After the fall of Tesla shares and the unprecedented crisis who is experiencing Twitter – a social network owned by him since last October -, it could be said that the billionaire is not going through his best moment. At least when it comes to your financial health.
Musk’s financial year it ended badly: not only did he have to sell a large part of his Tesla shares for Twitter to survive, but also his car company, the jewel of his empire, it has lost almost half of its value in the last months.
Despite continuing to own SpaceX, Tesla, and one of the most popular social networks on the market, the outlook for Musk is bleak financially.
How much money did Elon Musk lose in 2022
According to Forbes data, his fortune was reduced by $183,000 million. While Bloomberg has bet more: its calculations ensure it the loss is about 200,000 million dollars. The same publication ventures to point out that Elon Musk he will never again be the richest person in the world.
The Guinness World Records organization didn’t want to miss out on the opportunity and just a few days ago issued a press release confirming that the Tesla CEO broke a disastrous record in 2022 – the biggest loss of fortune in a calendar year. Before the tycoon, this record was held by son masayoshifounder of Softbank, which lost a total of 58.6 billion dollars.
After years of generating large amounts of cash in recent years, Musk’s fortune it reached a ceiling of $340,000 million in November 2021. A large part of this figure comes from the shares of the Tesla company, which suffered a unprecedented collapsespecifically a drop of about 60%.
Everything got worse with the purchase of Twitterwhich after months of legal battle for lack of agreement with the old board of directors, took shape last October.
Since then, successive layoffs and technical issues have continued to occur, leading to a new problem: visits from Twitter’s ad managers were down 74% in October and 85% in November, according to the Wall Street Journal.
Despite the current dire outlook, the tycoon always seems to have a sleeve up his sleeve that allows him to rise from his ashes. It is clear that this is the worst financial and business moment that Musk has ever faced, but it should not be forgotten that the executive continues to be the second richest person in the world.
The first place was taken away from him bernard arnault, CEO of French luxury brand LVMH, maker of Louis Vuitton items and Hennessy cognac. The Tesla owner wasn’t the only billionaire to lose part of his fortune over the past year.
Jeff Bezos staged the second biggest fall, with a loss of $80,000 million. Nor was it exactly a good year for Mark Zuckerberg. The CEO of Meta, the parent company of Facebook, lost a total of 78,000 million dollars, even surpassing the record of Masayoshi Son.
With information from La Vanguardia.
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Source: Clarin
Linda Price is a tech expert at News Rebeat. With a deep understanding of the latest developments in the world of technology and a passion for innovation, Linda provides insightful and informative coverage of the cutting-edge advancements shaping our world.