Elon Musk suffers the biggest loss of wealth in modern history

Elon Musk has suffered the biggest loss of wealth in modern history, with his net worth dropping by more than $ 200 billion (£166bn).

The billionaire, who recently took over the social media site Twitter, lost over half of his fortune over the last 13 months.

According to the Bloomberg Billionaires Index, Musk’s net worth declined by $ 208 billion (£172bn) – roughly the same as the annual GDP of Greece. That amount is also more than the total net worth of the world’s richest person, LVMH CEO Bernard Arnault.

Musk was previously at the top of the Bloomberg Billionaires Index, but has since been overtaken by Arnault. (www.nme.com)