Elon Musk recently lost an amount of money that\u2019s so large it accidentally set a new record.<\/p>\n
It\u2019s a bizarre record, but it\u2019s one that most of us would probably be happy to hold.<\/p>\n
That\u2019s because despite losing a fortune, he\u2019s still the richest man on the planet.<\/p>\n
READ MORE:<\/strong> Elon Musk plans to turn real-life James Bond car he bought for $1m into electric submarine<\/strong><\/a><\/p>\n Elon Musk\u2019s net worth peaked in November 2021, when it briefly hit $340 billion.<\/p>\n His net worth nosedived in 2022 and by January 2023, Musk had lost over $200 billion.<\/p>\n There are two main reasons behind this wild record.<\/p>\n Firstly, the stock market hasn\u2019t exactly been looking great for the last 16-18 months.<\/p>\n And most of Elon Musk\u2019s net worth is tied to Tesla.<\/p>\n Secondly, the Twitter deal had a snowball effect on Musk\u2019s fortune.<\/p>\n <\/a>Wance Paleri \/ Unsplash \u2013 Wikimedia Commons<\/p>\n The South African investor and engineer first announced he wanted to buy Twitter for $54.20 per share ($42-44 billion)<\/a> in the spring of 2022.<\/p>\n He did a sharp 180 shortly thereafter, walking away from the deal citing Twitter spam and bot accounts as the main reason for his decision.<\/p>\n But just a few weeks later, Musk changed his mind again after Twitter ex-CEO Parag Agrawal threatened legal action against the business mogul.<\/p>\n Ironically \u2013 and perhaps not surprisingly \u2013 Agrawal was immediately fired by Elon Musk after the takeover.<\/p>\n Musk began dumping his Tesla shares to fund the Twitter acquisition and his controversial leadership style contributed to the drop in value of Tesla stock.<\/p>\n In addition to that, Musk has been attempting to change Twitter, now X, and make it profitable with a trial-and-error method.<\/p>\n This hasn\u2019t gone down terribly well with the media, investors and, in part at least, Twitter users.<\/p>\n On his first day as CEO of Twitter, Musk walked into the Twitter HQ carrying a sink<\/a> \u2013 literally.<\/p>\n <\/a>Elon Musk \/ Twitter<\/p>\n He then fired a few top execs and 50 percent of the staff before announcing his intention to step down as CEO.<\/p>\n Musk famously shares polls on Twitter<\/a> to ask users about crucial decisions about his businesses, always promising he will \u201cabide by the results\u201d. <\/p>\n Elon Musk\u2019s net worth reached its lowest point in January, when he briefly became second-richest person in the world<\/a> behind LVMH <\/a>CEO Bernard Arnault.<\/p>\n At the time of writing, Elon Musk has a net worth of $248 billion<\/a>, chiefly because Tesla stock has been doing well ahead of the Cybertruck launch.<\/p>\n The post Elon Musk broke the world record for the largest personal fortune loss in history<\/a> appeared first on Supercar Blondie<\/a>.\u00a0<\/p>","protected":false},"excerpt":{"rendered":" Elon Musk recently lost an amount of money that\u2019s so large it accidentally set a new record. It\u2019s a bizarre record, but it\u2019s one that most of us would probably be happy to hold. That\u2019s because despite losing a fortune, he\u2019s still the richest man on the planet. READ MORE: Elon Musk plans to turn …<\/p>","protected":false},"author":0,"featured_media":41484,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[82,72],"tags":[],"class_list":["post-41483","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-society","category-entertainment"],"_links":{"self":[{"href":"https:\/\/vietvalley.com\/en\/wp-json\/wp\/v2\/posts\/41483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vietvalley.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vietvalley.com\/en\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/vietvalley.com\/en\/wp-json\/wp\/v2\/comments?post=41483"}],"version-history":[{"count":0,"href":"https:\/\/vietvalley.com\/en\/wp-json\/wp\/v2\/posts\/41483\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vietvalley.com\/en\/wp-json\/wp\/v2\/media\/41484"}],"wp:attachment":[{"href":"https:\/\/vietvalley.com\/en\/wp-json\/wp\/v2\/media?parent=41483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vietvalley.com\/en\/wp-json\/wp\/v2\/categories?post=41483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vietvalley.com\/en\/wp-json\/wp\/v2\/tags?post=41483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}