Elon Musk’s financial decline sets a new record.

According to a blog post on Guinness World Records, he lost about $165 billion between November 2021 and December 2022.

Guinness noted that although the figures were based on data from publisher Forbes, other sources suggested that Mr. Musk’s losses might have been higher.

It comes after Mr. Musk’s electric car company Tesla’s stock value dropped after he acquired Twitter last year.

Investors are worried that Mr. Musk is no longer giving Tesla enough attention due to his $44 billion (£36 billion) acquisition of the social media company.

The sum lost by Mr. Musk since November 2021 surpasses the previous record set by Masayoshi Son, a Japanese tech investor, who lost $58.6 billion (£47 billion) in 2000.

The estimated loss is based on the value of his shares, which might increase in value again, increasing Mr. Musk’s wealth.

The CEO of French luxury goods company LVMH, which owns the fashion label Louis Vuitton, Bernard Arnault, replaced the Tesla CEO as the wealthiest man in the world in December. LVMH is the parent company of Louis Vuitton.

In 2022, the value of Tesla shares decreased by about 65%, partly due to Tesla’s performance. Just 1.3 million vehicles were delivered by the company during the year, falling short of Wall Street expectations.

However, most share price decline can be attributed to Mr. Musk’s acquisition of Twitter, where he has stirred up controversy by firing a sizable number of employees and altering content moderation policies.