[Janelle Ward]

So you think you’ve had a bad 12 months given most super funds either went backwards in 2022 or posted only small returns?

Well, Elon Musk can beat you all.

Guinness World Records says he has broken the world record for the biggest loss of personal fortune in history.

From November 2021 to December 2022, he lost about $US165 billion ($A238.5 billion), according to data from publisher Forbes. And Guinness says other sources suggest Musk’s losses could have been even higher.

The problem was a fall in the value of shares in Tesla after he bought Twitter last year. That $US44 billion ($A63.6 billion) takeover of the social media company sparked concerns among investors that Musk was no longer giving Tesla enough attention.

The previous record loss was $US58.6 billion ($A84.7 billion) suffered by Japanese tech investor Masayoshi Son in 2000.

[Couldabeen]

However, in real terms, Elon Musk has not lost a cent. He has not sold any of his shares. It is very probable that the shares will recover their market price within a year or two.
When the market value of your shares varies, it makes no difference to your value unless you sell the shares.
Musk remains very wealthy on our average metric. He will feel no pain.

[Author]

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