Elon Musk Breaks Guinness World Record for Losing the Most Money
Elon Musk first made a name for himself as a visionary entrepreneur, but his recent actions have raised questions. While he may not be on the same level as Steve Jobs, he has made a significant impact with Tesla. He then turned his attention to SpaceX, pushing boundaries in space travel. However, his recent involvement in cryptocurrencies and tweets about them have caused some confusion and concern. Despite these controversies, Musk continues to make headlines and break records, including his wealth.
Years ago, a poor but proud young man shone! This young man who turns into a rocket and spirals out of control is none other than Elon Musk.
In 2022, there was no one left in the world who has not lost money. In Turkey, 7 billion 997 million people succumbed to inflation when 3 million out of 8 billion people, except for those with investments in the Stock Exchange. Among them was Elon Musk.
He lost so much money that he broke a record into Guinness.
Musk's fortune melted away when the value of Tesla's shares, to which he owed his existence, fell after he bought Twitter
While the Twitter acquisition was already turning into a snake story, he dealt so much with the social media giant for which he paid $ 44 billion that investors also thought Musk forgot about Tesla.
The main reason for Musk's losses was the depreciation in stocks, while Tesla shares had fallen by about 65 percent in 2022.
Apart from 'not being Musk's preciousl', another reason for the decline in Tesla was that it delivered 1.3 million vehicles in 2022 and fell short of its expectations.
Musk said after the stock market session close on December 31, 2022, for Tesla, ''The long-term fundamentals are extremely strong. Short-term market madness is unpredictable.''
While some sources indicate that Musk has lost more money than announced, the record for the loss of wealth previously belonged to Japanese technology investor Masayoshi Son.
In 2000, the famous investor with the 'dotcom bubble' had lost 58.6 billion dollars.
Musk, who also lost being the richest person in the world with the fall of Tesla, lost this title to Bernard Arnault, the CEO of the French LVMH, the owner of Louis Vuitton and Dior, in December 2022.
According to Forbes' calculations, Musk's fortune has declined to $ 178 billion, while Arnault is worth $ 188 billion.
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