Elon Musk Joins the $200 Billion Club As Tesla Stock Skyrockets By 104% In 2023

This year has been a turnaround year for Elon Musk, who last year became the first person in history to see a loss of $200 billion in net worth. In the past week, he has surpassed Bernard Arnault to become the richest person in the world again, and his fortune has now surpassed $200 billion.

Elon Musk’s net worth has increased to $202 billion this year due to a surge in Tesla stock that has seen its value increase by more than 100%. The EV industry leader’s stock price has increased by 104% so far in 2018. According to Bloomberg’s billionaire index, Elon Musk, the richest man in the world, has increased his fortune by $65.1 billion so far in 2018.

The majority of Musk’s wealth is supposedly invested in Tesla shares (71%). Whether Musk is able to maintain his position as the world’s richest person and continue his recent run of success in amassing billions of dollars remains to be seen, but his chances appear better now than when he regained the title earlier this year, as not only are Tesla shares surging at the moment, but second-placed Arnault’s wealth is dwindling too, at a time when the billionaire is trying to settle on a successor for his empire. But Mark Zuckerberg, CEO of Meta, has returned to the top 10 richest list after a two-year absence thanks to a $53-billion increase in his net worth, which now totals $98.9 billion.

Stock in Tesla has risen by 104% so far this year after suffering heavy losses in 2017. The electric vehicle company’s stock soared this week, and Elon Musk regained his position as the richest person in the world thanks in part to Musk’s first trip to China in three years. As a Teslarati article notes, the company has recently experienced a string of successes, one of which is that all three of the Model 3’s trim levels are now eligible for the full $7,500 tax credit. Some places with attractive local incentives have reduced the price of the Model 3 to below $30,000, which may entice investors to purchase the vehicle.