Elon Musk is often recognized as the world’s richest man, but he also holds a less enviable title—having suffered the largest personal fortune loss in history. Between 2021 and early 2023, Musk’s net worth dropped from $320 billion to $138 billion, marking a staggering loss of $182 billion. This historic financial downturn was largely attributed to a sharp decline in Tesla’s stock value, significantly impacting the billionaire’s wealth.
The Largest Personal Fortune Loss in History
According to Guinness World Records, Musk’s loss far exceeded the previous record-holder, Masayoshi Son, the CEO of SoftBank Group, who lost $58.6 billion during the dot-com crash in 2000. Musk’s financial decline was unparalleled, fueled by market fluctuations and investor concerns over Tesla’s stock, which saw significant price drops.
The loss also briefly stripped Musk of his status as the world’s richest person, a title he had to relinquish—albeit temporarily—to Bernard Arnault, the founder of LVMH (Louis Vuitton Moët Hennessy). At the time, Arnault’s fortune was estimated at $190 billion, surpassing Musk’s reduced wealth.
A Temporary Setback
Despite this record-breaking loss, Musk’s fortunes have since rebounded dramatically. By March 2025, Forbes estimated his net worth at $351.6 billion, once again securing his position as the world’s wealthiest individual. His recovery was driven by a resurgence in Tesla’s stock, as well as the ongoing success of his other ventures, including SpaceX, Neuralink, and The Boring Company.
Forbes’ real-time billionaire ranking placed Musk at the top, with a significant lead over competitors such as Meta’s Mark Zuckerberg ($226.7 billion), Amazon’s Jeff Bezos ($223.5 billion), and Oracle’s Larry Ellison ($199.2 billion). Bernard Arnault, who had briefly overtaken Musk, had a reported net worth of $180.6 billion, placing him lower on the list.
The Impact of Tesla’s Stock on Musk’s Wealth
As Tesla’s largest shareholder, Musk’s net worth is closely tied to the performance of the electric vehicle giant. When Tesla’s stock price fluctuates, so does Musk’s fortune. The dramatic drop in Tesla shares between 2021 and 2023 resulted in a paper loss of nearly $200 billion, demonstrating the volatility of his wealth. However, with Tesla rebounding and new projects on the horizon, Musk has managed to reclaim his financial dominance.
