Elon Musk has indisputably made a name for himself as “the world’s richest man,” a moniker so closely associated with him it feels like it could be patented. But the South African-born entrepreneur has also achieved notoriety for holding another record: the most significant financial loss ever seen in personal wealth. From late 2021 to early 2023, Musk’s net worth plummeted from an eye-watering $320 billion down to $138 billion, representing an astonishing loss of $182 billion.
Musk’s Historical Losses
This drastic decline in Musk’s wealth has granted him a less-than-flattering title: the individual with the largest personal fortune loss in history. A Forbes report highlighted that between 2021 and 2023, the value of his investments—mostly linked to Tesla—experienced a dramatic downturn. The sharp fall in Tesla’s stock price was a major factor, propelling Musk’s financial loss to heights previously unseen and overshooting the former record of $58.6 billion set by Japanese tech mogul Masayoshi Son back in 2000.
This monumental loss not only made waves for its scale but also temporarily cost Musk his title as the world’s richest person. During this period, Bernard Arnault, the CEO of LVMH, momentarily seized the crown, reaching a net worth estimated at $190 billion.
Current Worth of Elon Musk
Despite these financial tremors, Musk’s fortunes have made a remarkable comeback, and he appears to have clawed his way back to the top of the billionaire ladder. As of early March 2025, Forbes indicated that Musk’s net worth had surged to $351.6 billion, reaffirming his position as the richest person globally. While these numbers are subject to daily fluctuations, at that time, Musk held a clear lead over rivals like Mark Zuckerberg of Meta and Jeff Bezos of Amazon, who were at $226.7 billion and $223.5 billion respectively.
Wealth tied to stock prices can shift rapidly, so while Musk’s rank seems secure, any significant financial misstep on his part or a stunning rise for another billionaire could upset the current standings.
The Final Word
Elon Musk’s record for the largest personal financial loss stands, yet his wealth has made a substantial recovery. Currently, he retains the title of world’s richest person, a position that may be stable for a while unless there are major market upheavals or competitive breakthroughs from his peers.
The extraordinary fluctuations in his wealth underscore not only market volatility but also highlight the remarkable impact of Musk’s ventures in tech and aerospace. As long as companies like Tesla and SpaceX continue to thrive, it seems Musk’s financial narrative will keep grabbing headlines around the globe.
