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American billionaire Elon Musk, founder of electric car maker Tesla, has suffered the largest loss of wealth in history.
His net worth has fallen by more than $200 billion (£166 billion) in just one year.
According to the Bloomberg Billionaires Index, Musk’s net worth has fallen by $208 billion (£172 billion).
It is roughly the same as the annual GDP of Greece.
This amount is also more than the total net worth of the world’s richest person, Bernard Arnault, CEO of LVMH.
Musk was previously at the top of the Bloomberg Billionaires Index, but has since been overtaken by Arnault.
His net worth was previously $338 billion and is now $132 billion (£110 billion).
The significant drop in Musk’s net worth is largely due to the collapse of Tesla stock over the past year.
Musk recently commented on this huge loss, saying in his statements: “I don’t get too bothered by the stock market’s madness, as we prove the continuation of excellent performance, the market will realize it.”
Since Musk took over Twitter in October, the site has faced a number of difficulties.
Musk fired several CEOs and half of his workforce, and he quickly advised users to archive their Twitter history after speculation that the platform might collapse.
Earlier this month, Musk said he would step down as CEO once he finds “someone stupid enough to take the job,” after Twitter users voted him to quit in a poll.