Elon Musk has set a new Guinness World Record for the largest loss of personal fortune, losing a staggering $182 billion in just one day. The loss resulted from a drop in Tesla’s stock price, the electric car company of which Musk is the CEO and largest shareholder.
The record-breaking loss came on the heels of a historic run for Tesla’s stock, which had soared more than 740% in 2020. However, on January 7, 2022, the stock price fell by 8.6%, causing Musk’s net worth to drop by billions. Despite this setback, Musk’s net worth is still estimated to be over $178 billion, making him one of the richest people in the world.
This is not the first time Musk has experienced a significant loss of personal fortune. In 2018, he lost $4.3 billion in one day when Tesla’s stock price dropped by 8%.
Many experts attribute the recent stock drop to a combination of factors, including profit-taking by investors, concerns about the future of electric vehicles, and the economy’s overall health. Additionally, some investors may have been worried about the recent controversies surrounding Musk, such as his Twitter takeover antics and his tweets about Dogecoin.
Despite the loss, Musk remains optimistic about the future of Tesla. He stated that he believes the company will continue to innovate and grow and that electric vehicles will become the dominant form of transportation in the future. He also continues to work on other ambitious projects, such as developing a high-speed transportation system known as the “Hyperloop.”
While Musk’s recent loss of personal fortune is significant, the Tesla CEO still remains one of the most influential individuals in the world, as his companies continue to innovate and push boundaries.