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Your morning schadenfreude: Elon Musk breaks world record for largest loss of personal fortune in history

1288 Views 31 Replies 11 Participants Last post by  Nycturne
Elon Musk breaks world record for largest loss of personal fortune in history

Elon Musk breaks world record for largest loss of personal fortune in history
The tech billionaire has reportedly lost $182bn (£150bn) since November 2021, largely due to the drop in Tesla’s share price
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Elon Musk has broken the world record for the largest loss of personal fortune in history, according to a Guinness World Records report. Photograph: Andrew Kelly/Reuters

Samantha Lock
Wed 11 Jan 2023 22.05 EST

Elon Musk has broken the world record for the largest loss of personal fortune in history, according to a Guinness World Records report.

The tech billionaire has lost approximately $182bn (£150bn) since November 2021, although other sources suggest that it could actually be closer to $200bn, the report said.

“Musk’s net worth dropped from a peak of $320bn in 2021 to $138bn as of January 2023, largely due to the poor performance of Tesla’s stock,” the global records database said, citing figures obtained from Forbes.

Although the report concedes the exact figure is “almost impossible to ascertain”, it noted that Musk’s total losses “far surpass” the previous record of $58.6bn (£47bn), set by Japanese tech investor Masayoshi Son in 2000.


The majority of Musk’s fortune is tied up in Tesla stock, the value of which plummeted 65% in a tumultuous 2022, the Guinness World Records report said.

The decline accelerated in October after Musk bought Twitter for roughly $44bn (£36bn), it said.

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Does anyone other than Tesla fans think that the Cybertruck is going to be worth spit? I can't understand its appeal at all.

The Semi is a much more interesting question.
IMO, I think it is such a bizarre product. Because of the stainless steel they will all look exactly the same, and that exactly the same look is one only an attention seeker would want. Once the final pricing is in, I don’t see many selling.
No!! The real problem here, with all companies that share this problem, is found in how tough it is to invest when the company is so very tied to just one guy. That always creates this potential extra volatility.

For better or worse. Elon Musk is Tesla. If you invest here you accept that no small part of your risk is with him when you invest in this company. When things are going well everyone loves the genius owner who turns all he touches to GOLD and when things start to slid we hear plenty of calls to remove or limit him.

Remove him as CEO? Hey, you could......but the resulting loss of confidence would almost certainly be catastrophic for shareholders.

Tesla's real issue here isn't Elon Musk. It's found in the disconnect between the company and it's equity valuation placed on it in daily trading of it's stock. For a very long time now, yeah just 10 years or less but still that's a long time in the world of EVs, Tesla was the name and no competitors worth motioning even existed.

We could point to Musk's ill advised walk into the cesspool of Twitter. We could point to any one of his various eccentric behaviors as a problem that has created the fall in Tesla's share price but in reality all we'd really be pointing at are reasons to suggest why it's happening more quickly than it might have if he were a little more traditional in his CEO roll.

Ultimately Tesla was almost certain to see this fall in valuation eventually anyway.

Alan Greenspan's "irrational exuberance" line comes to mind. Before the latest fall in value Tesla was valued at more than all other car companies in the world combined. Priced as if all would be competition would fail to ever happen and eventually we'd all be leaving our ICE powered cars and trucks behind in favor of a new Tesla replacement.

CRAZY RIGHT? Of Course it was....competition is going to be FIERCE going forward. Tesla is still the leader and it may even stay there for quite awhile but they are no longer the only game in town and all the big players have a crap load of EV products coming to market now and over the next couple of years.

Bottom line: this fall was coming for Tesla's valuation. Doesn't mean the company is in trouble, doesn't mean Elon Musk needs to be blamed....... it's just a simple return to reality for a lot of pretty short sighted silly investors who paid way too much and pressed the market cap of Tesla to insane valuation over the last couple of years.

Removing Elon Musk wouldn't have prevented this and removing him now or in the near future wouldn't return company to insane valuation. Even from here, after a dramatic fall, it's still easy to argue Tesla as far too richly valued vs it's actual prospects going forward.

Lesson is simple. Stock pricing can easily get pretty disconnected from the real prospects and current condition of business at any company and when a company is as hot a topic as Tesla has been.....WOW!!
Semi =/= Cybertruck
Count me as one who thinks physics is still physics. That aside, I hope for now that the semi prototypes fail to sell. There is a limited capacity of materials and supplies for batteries and other EV components. I would prefer to see them go toward increasing supply and reducing the costs of passenger vehicles first.
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