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Elon Musk becomes first person to lose $259billion

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Elon Musk has broken the world record for the largest loss of personal value in history.

Data shows that from November 2021 to December 2022 Musk lost around $NZ259b.

The figures are based on data from publisher Forbes, a highly respected economic magazine.

The estimated loss is based on the value of his shares in both Twitter and Tesla. These could regain their value, meaning Musk’s wealth would increase again.

The value of Tesla shares dropped around 65 percent in 2022. The firm made just 1.3 million vehicles during the year, falling short of Wall Street expectations.

Musk is now worth about $178b, according to Forbes.

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