Elon Musk is often referred to as “the world’s richest man”, a title that has become so synonymous with his name that it could almost be trademarked. However, the South African-born entrepreneur is also infamous for holding another distinction: he is the person with the largest loss ever recorded in personal fortune. From late 2021 to early 2023, Musk’s net worth dropped from a staggering $320 billion to $138 billion, losing a whopping $182 billion.
How Much Musk Lost
This dramatic decline in Musk’s wealth earned him a dubious honor: the largest personal fortune loss in history. According to a report by Forbes, between 2021 and 2023, the value of his holdings—primarily tied to Tesla—suffered a massive drop. Tesla’s stock price took a significant hit, contributing to the loss, and making Musk’s drop the largest on record, surpassing the previous record of $58.6 billion set by Japanese tech investor Masayoshi Son in 2000.
This loss didn’t just make headlines for its magnitude, but it also temporarily caused Musk to lose his spot as the world’s richest person. Musk’s loss in wealth allowed Bernard Arnault, the CEO of LVMH, to briefly claim the title, with his net worth reaching an estimated $190 billion.
How Much Elon Musk Is Worth Today
Despite these dramatic financial setbacks, Musk’s fortunes have dramatically rebounded, and he seems to have regained his position at the top of the billionaire rankings. As of early March 2025, Forbes reported that Musk’s net worth had risen to $351.6 billion, solidifying his status as the richest person in the world. The numbers can shift daily, but as of that date, Musk’s fortune was far ahead of the competition, with Mark Zuckerberg of Meta at a distant $226.7 billion, and Jeff Bezos of Amazon at $223.5 billion.
These figures are always in flux, as wealth tied to stock prices can change quickly. But even if there is some movement in the rankings, Musk would need to lose a significant amount of money, or another billionaire would need to make a dramatic financial leap, for his position to be at risk.
The Bottom Line
Elon Musk holds the record for the largest personal financial loss, but his wealth has rebounded significantly. As of now, he remains the world’s richest person, a title that he may hold for some time unless dramatic changes occur in the market or with his rivals’ fortunes.
While his rollercoaster ride of wealth fluctuations might be a testament to the volatility of the market, it also highlights the incredible scale of Musk’s achievements in the tech and space industries. His wealth is largely tied to the success of companies like Tesla and SpaceX, and as long as these ventures continue to thrive, Musk’s financial status is likely to remain at the forefront of global headlines.
