Elon Musk recorded a loss of RM719.4 billion
Elon Musk became the first human in history to experience a loss of RM719.4 billion from his wealth.
BILLIONAIRE Elon Musk, who was previously the richest individual in the world, broke world records when the Tesla founder and Twitter owner became the first human in history to experience a loss of US$165 billion (RM719.4 billion) from his wealth, according to Guinness World Records .
According to the website, the loss was recorded by the tycoon from November 2021 to last December.
The report said the figure was based on data from the Forbes list , but Guinness World Records expected the number to be higher than that.
This follows a sharp fall in the value of his shares in the electric car company, Tesla last year.
Twitter’s US$44 billion (RM207.6 billion) acquisition has sparked concern among investors who think the billionaire is not paying enough attention to the electric car company.
Musk’s losses since November 2021 surpassed the record of Korean-Japanese technology billionaire Masayoshi Son who lost around A$60 billion (RM261.54 billion) in 2000, during the era of the Dotcom website collapse.
On December 7, Musk briefly lost the top spot on the Forbes billionaires list to Bernard Arnault, whose family owns the world’s leading luxury fashion company, LVMH.
Tesla’s stock value is down about 65 percent in the past year.
The company only managed to produce 1.3 million vehicles, less than initial expectations.
