The amount of money that Elon Musk has mismanaged has caused him to suffer the “biggest loss of personal wealth in history,” as acknowledged by the Guinness World Records…

Elon Musk started the year 2023 by shattering a world record—this time for the most amount of money lost.

The CEO of Tesla and Twitter lost such a significant portion of his wealth in the preceding year that Guinness World Records acknowledged him for it. According to a press statement issued by the organization on Friday, he has successfully shattered the record for the “biggest loss of personal wealth in the history of the planet.”

Forbes recently projected that Elon Musk’s net worth has decreased by $183 billion in a little over a year, while Bloomberg put the number at $200 billion. Both estimates were made very recently.

Before Musk, the previous record for personal wealth wiped away was established in 2000 by Masayoshi Son, founder, and CEO of Softbank, at a significantly smaller amount of $58.6 billion. This record was set before Musk.

According to estimations provided by Bloomberg, Elon Musk’s net worth hit its all-time high in November of 2021, when it surpassed $340 billion. But Tesla shares, which account for the majority of Musk’s fortune, have been in a wild spiral since last year, falling by 65 percent in 2022 alone. After Musk purchased Twitter in October, their precipitous decline accelerated at an even faster rate.

As a direct consequence of this, Musk is no longer the wealthiest individual on the planet; instead, that distinction now belongs to Bernard Arnault, the CEO of the French conglomerate that owns Louis Vuitton.

The most recent estimations from Forbes place Musk’s net worth at a staggering $144.4 billion today.

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