Took a put at 10:40am for a quick 17% gain from the downtrend. The stock was the weakest and the short is timely but the premium wasn't too attractive. Expect choppy trades leading to CPI reading on Thursday for the big moves.
According to the Guinness World Records, the loss by Musk in 2022 tops the previous record holder Masayoshi Son, the founder and CEO of Softbank Group Corp (OTC:SFTBY). Son lost $58.6 billion of wealth in 2000 according to the report.
Musk has lost $182 billion in wealth since November 2021 according to estimates from Forbes. Other sources pegged the loss at around $200 billion.
Regardless of the exact amount, Musk set a record for the biggest loss of wealth in one year and is now the recipient and owner of a Guinness World Record.
Musk saw his wealth drop thanks in large part to a 60%-plus drop in the share price of Tesla. The move saw LVMH Moet Hennessy Louis Vuitton SA (OTC:LVMUY) CEO Bernard Arnault overtake Musk as the world’s richest person.
Tesla was one of the biggest losers by percentage among large cap stocks in 2022. Shares were down more than 60%.
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