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

1287 Views 31 Replies 11 Participants Last post by Nycturne, 5 mo ago

Atlant

Discussion Starter · 5 mo ago

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

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
@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.

(snip)

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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TidingSStables

· #13 · 5 mo ago

Spin said:
It's not for me because I tow large trailers over long distances but it will sell.
View attachment 20077

500 miles and 1000 kWh charging capabilities.

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TidingSStables

· #19 · 5 mo ago

Eric Nay said:
I read a couple weeks ago about Pepsi taking delivery, and they mentioned they would use it for hauling Frito Lay (chips, light load) over long distances and Pepsi (Heavy Load) over short distances. So yeah, there's something there to dig into. I think the electric Semi idea will work for some loads, but I'm not convinced it will work for all loads yet. Of course, electrify those routes that WILL work and THEN see if an answer pops out for the rest.

The only choice now is pay expensive diesel or pay the rail barons monopoly.

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TidingSStables

· #21 · 5 mo ago

Spin said:
Don't get me wrong, I think the Cybertruck will sell. It's just not for me.

When fuel ⛽ prices goes back up after elections that will change your mind.

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TidingSStables

· #23 · 5 mo ago

Atlant said:
But why the Cybertruck in particular? Why not a Ford F-150 Lightning? Or a Chevy electric Silverado? Or the now-impending Dodge electric RAM that may or may not come with an ICE range extender?

People here are complaining that the Hyundai Ioniq 5 has weird styling and they'd never buy it for that reason but compared to the Cybertruck, the Ioniq 5 is completely mainstream. The Cybertruck? THAT is some seriously weird, affected styling that is only likely to appeal to a very particular set of tastes. (People who missed out on buying a Delorean?)

Ford EV truck has a pathetic low towing rate and Chevy is also inefficient which you may as well go diesel. Dodge Stellantis is too late in the game and will come in 2025.

Cyber truck is form over function. Most dependable old trucks in the heirloom are beaten up and that’s the market they are chasing. If you want a pretty truck go for a Rivian.

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TidingSStables

· #26 · 5 mo ago

Atlant said:
But physics is physics so if the Ford truck's range sucks when it's towing some arbitrary trailer, then the Cybertruck's range will suck similarly when it's towing the same arbitrary trailer; it's not like Ford is foolishly pulling the trailer wrong. Starting with more range will help, but the proportionality must still hold.

Tesla Semi defies laws of physics and is passing us by if true, says Daimler's head of trucks

Daimler has several electric truck programs in the works and today it revealed the latest progress on the eActros heavy-duty electric trucks....

electrek.co

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Tesla Semi defies laws of physics and is passing us by if true, says Daimler's head of trucks

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