The spectacular crash in Elon Musk’s net worth, during which the tech billionaire lost his title as world’s richest man last month, has been the “worst loss of fortune in history,” according to Guinness World Records.
, Musk tweeted, “As bank savings account interest rates, which are guaranteed, start to approach stock market returns, which are *not* guaranteed, people will increasingly move their money out of stocks into cash, thus causing stocks to drop.”
Still, Musk appeared to tacitly acknowledge investors’ concerns that his investment in Twitter is detracting from the value of his other projects. “I will make sure Tesla shareholders benefit from Twitter long-term,” Musk tweeted in December. He did not provide specifics.Musk was surpassed as the world’s richest person by Bernard Arnault, CEO and chairman of French luxury retail giant LVMH.
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