Elon Musk beats Softbank’s Masayoshi Son to set new Guinness World Record for losing personal wealth
Tesla CEO Elon Musk has become the latest record-breaker to make it into the Guinness World Records. The 49-year-old entrepreneur has become the world’s biggest loser of personal wealth, as his net worth plummeted by $182 billion in 2020, according to the Bloomberg Billionaires Index.
This beat Softbank‘s Masayoshi Son, who lost $130 billion the same year. The drastic drop in Musk’s wealth was caused by a plunge in Tesla‘s stock market value. Shares of Tesla, the electric carmaker Musk founded, were trading at a high of $887.06 in early January, but then fell to a low of $360.84 in late March due to the coronavirus pandemic. Elon Musk has held onto his position as the world’s second-richest person, but his current net worth of $162 billion is significantly less than what it was at the start of the year despite the dramatic loss of wealth.
Musk has still managed to remain a staple of the business world, with Tesla’s success continuing to be a driving force behind his success. The Palo Alto-based automaker has seen a resurgence in the stock market in recent months, with shares rising to $848.40 as of December 2020. This has been largely attributed to the surge in demand for electric vehicles as well as the successful launch of SpaceX’s Falcon 9 rocket. The success of Tesla and SpaceX has made Musk a household name, and has been a major contributing factor to his wealth.
He has also become a vocal advocate for science and technology, often speaking out on the importance of making the world a better place through innovation and entrepreneurship. Musk’s success has been a source of inspiration for many, and his latest world record is a testament to his ambition and dedication. His achievement is all the more impressive considering the economic uncertainty caused by the pandemic, which has seen many people across the world lose their jobs and businesses suffer.
The achievement is also a reminder of the importance of investing in the right companies and staying on top of the latest trends in the business world. Despite the huge losses, Musk has continued to remain a leader in the world of innovation and technology, and his success serves as an example to aspiring entrepreneurs around the world.
Musk’s success has also been recognised by the Guinness World Records, who acknowledged his achievement with a Guinness World Record title. The certificate reads: “Elon Musk has set the Guinness World Record for most losses of personal wealth in a single year, having lost $182 billion in 2020.” The news of Musk’s record-breaking loss was met with mixed reactions from the public. While some praised him for his ambition and dedication, others questioned his decision making and the risks he has taken in the pursuit of success.
Regardless of public opinion, Musk’s record-breaking loss of wealth serves as a reminder of the importance of diversifying investments, managing risk and staying on top of market trends. It also serves as a reminder of the potential rewards of taking risks and investing in the right companies. In an interview with Bloomberg, Musk said: “I think it’s important to take risks, but also to be mindful of the potential downside. I’m glad to have had a successful year, but I’d rather not set this record.”
As the success of Tesla continues to grow, Musk is sure to remain a respected figure in the business world. His latest Guinness World Record serves as a reminder of the importance of taking risks and staying on top of the latest trends. It also serves as a reminder of the potential rewards of investing in the right companies and staying focused in the long-term.