Musk was the first person in history to lose $2 billion (Photo: Win McNamee/Getty Images)

Elon Musk officially holds the world record for the largest loss of personal property in history according to Guinness World Records.

Musk started the year by becoming the first person in history to lose about $2 billion.

The previous record for the largest loss of personal wealth was held by Japanese technology investor Masayoshi Son, who lost $58.6 billion in 2000.

According to Forbes, Musk’s net worth fell from a peak of $320 billion in 2021 to $138 billion in January 2023, largely due to the poor performance of stocks at his electric car company Tesla.

“The long-term fundamentals are extremely strong. Short-term market madness is unpredictable,” Musk tweeted after the market closed for the year on December 30, 2022.

Tesla CEO Elon Musk speaks with Dan Priestly, senior manager of Tesla Semi Truck Engineering, during the livestream unveiling of the Tesla Semi Electric Truck in Nevada, USA, December 1, 2022, in this video.  Tesla/Handout via REUTERS THIS IMAGE IS PROVIDED BY A THIRD PARTY.  NO RESALE.  NO ARCHIVES

Tesla CEO Elon Musk during the live-streamed unveiling of Tesla’s semi-electric truck (Photo: Reuters)

By the end of 2022, he will lose his title as the world’s richest person to fashion giant Bernard Arnault, according to Forbes’ real-time wealth tracker.

Before you get too sorry for him, the boss of Tesla, SpaceX and Twitter is still worth about $140 billion.

Things seemed to take a turn for the worse this year after he bought Twitter for $44bn (£34.5bn).

Musk sold nearly $40 billion worth of Tesla stock this year alone, leaving investors unhappy.

Many Tesla investors worry that his involvement with Twitter has distorted his focus on running the EV business.

Musk debuted on the Forbes list of billionaires in 2012 with an estimated net worth of $2 billion.

Currently, SpaceX is his most valuable company, in which he has a $44.8 billion stake.

Meanwhile, Tesla is offering buyers in the US a $7,500 discount on some of its models, and the company is reportedly cutting production at its Shanghai factory.

The billionaire claims that Tesla is “performing better than ever” and blames the Federal Reserve for raising interest rates.

In addition to Tesla and Twitter, where Musk’s management and tweets draw political attention and backlash, he also runs rocket company SpaceX and Neuralink, a startup developing interfaces to connect the human brain to computers.

In November, Musk hinted at the possibility of Twitter going bankrupt.

Musk isn’t the only tech billionaire whose fortunes are shrinking. Tech tycoons lost a total of £344 billion in 2022.

Bezos lost $84bn (£70bn) and Facebook’s Mark Zuckerberg, who continues his plans to forge the “Metaverse”, lost $81bn (£67bn).