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Elon Musk records loss of $182 billion

The record for the greatest loss of personal wealth in history has been broken by Elon Musk.

He lost over $165 billion between November 2021 and December 2022, according to a blog post on the website of Guinness World Records.

Guinness noted that although the statistics were based on data from publisher Forbes, other sources suggested that Mr. Musk’s losses might have been larger.

It comes after Mr Musk’s electric vehicle company Tesla’s stock value dropped after he acquired Twitter last year.

His $44bn (£36bn) takeover of the social media company has sparked concerns among investors that Mr Musk is no longer giving Tesla enough attention.

According to BBC, Mr Musk’s losses since November 2021 surpass the previous record of $58.6bn (£47bn), suffered by Japanese tech investor Masayoshi Son in 2000.

The estimated loss is based on the value of his shares, which could regain their value, meaning Mr Musk’s wealth would increase again.

Mr Musk is now worth about $178bn (£152bn), according to Forbes, while Bernard Arnault has an estimated value of $188bn (£155bn).

Writing by Adeniyi Bakare; Editing by Julian Osamoto