$110 Billion! Elon Musk Has Earned More Than Jeff Bezos, Bernard Arnault & Bill Gates Combined This Year?

Last year saw Elon Musk become the world's first person to lose $200 billion in net worth, amid which he also lost the title of world¡¯s richest person to Louis Vuitton Group¡¯s CEO Bernard Arnault.

Fast forward to today, i.e., just a week after Elon Musk celebrated his 52nd birthday, and the billionaire has seen the tables turn in his favour this year.

Elon Musk Adds More Wealth Than Next 3 Richest People Combined

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Not only has he reclaimed the title of world¡¯s richest person, but in fact, the jump in his net worth this year to date is more than what the next three richest people in the world have cumulatively earned this year to date.

In sharp contrast to the mammoth wealth that he eroded amid Tesla stocks¡¯ bloodbath last year, Elon Musk has been enjoying a bull run this year. The reason, again, is Tesla stock. Tesla stocks have jumped more than 150% this year, helping the world¡¯s richest person add $110 billion to his net worth to date this year.

This $110 billion addition to his net worth is more than what the next three richest people in the world have cumulatively earned.

On the world¡¯s richest people list, second-placed Bernard Arnault has added $37.3 billion to his net worth this year till date; third-placed Jeff Bezos has added $47.6 billion; and Bill Gates has added $24.7 billion this year till date. Combining the jumps of these three turns out to be $109.6 billion, which is still less than the $110 billion jump that Musk alone has enjoyed this year.

Can Musk Recover Last Year's $200 Billion Erosion?

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If Elon Musk keeps adding more to his net worth at the pace he has been able to do so this year at the halfway mark, it's more likely that he will be able to recover last year¡¯s $200 billion erosion by the end of this year itself.

Also Read: Why Apple CEO Tim Cook Once Rejected Elon Musk's Offer To Acquire Tesla

Tesla Stock's Surge This Year After 2022's Bloodbath

Last year saw Tesla stock crash 65%, which was its worst year ever amid rising costs, competitive threats, and the risk that a recession will slow demand for EVS. In contrast, This year has seen Tesla stock surge more than 150%, which has been the key to its CEO Musk reclaiming the world's richest title and seeing his net worth jump more than $100 billion already this year.

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EV giant Tesla's shares have also benefited from a string of positive news in the past two months, including deals struck by rival automakers Ford and General Motors to gain access to its charging network, a move that could make its chargers the industry standard.

Even a couple of days ago, Tesla said it delivered a record number of vehicles in the three months to the end of June after cutting prices to boost sales. Tesla said it delivered 466,140 vehicles in the second quarter, which was more than 80% higher than a year earlier. As per a BBC report, Tesla has lowered prices in markets including the US, UK, and China to compete with rival manufacturers.

Earlier this year, Tesla CEO Elon Musk said he believed pursuing higher sales with lower profits was the "right choice" for the company.

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