Elon Musk's Net Worth Crosses $200 Billion As Tesla Shares Jump 104% This Year

After becoming the world's first-ever person to lose $200 billion net worth last year, Elon Musk¡¯s fortune has changed for the good this year.

Elon Musk's Net Worth Crosses $200 Billion

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Not only has he reclaimed the title of the world¡¯s richest person by replacing Bernard Arnault last week, but the billionaire¡¯s net worth too has crossed the $200 billion mark.

Elon Musk currently has a net worth of $202 billion, thanks to surging Tesla shares, whose jump has now crossed 100% this year to date. The EV giant¡¯s shares are up 104% this year to date.

$65 Billion Jump In Networth This Year

World¡¯s richest person Elon Musk has already added $65.1 billion to his net worth of $202 billion this year to date, as per the Bloomberg billionaire index.

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The shares of Tesla reportedly comprise 71% of Musk's fortune. Now it remains to be seen whether Musk is able to hold on to the world's richest title and continue the momentum of piling up more and more billions, which looks more favourable in the current scenario than it did last time when he reclaimed the title earlier this year, as not only are Tesla shares surging currently, but second-placed Arnault's wealth is bleeding too, at a time when the billionaire is looking to finalise a successor for his empire.

On the other hand, Meta¡¯s CEO Mark Zuckerberg is the billionaire who has added the second most amount to his net worth this year, and also made a comeback to the top 10 richest list, with his net worth jumping $53 billion to stand currently at $98.9 billion.

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

Tesla Stock¡¯s 104% Surge This Year

With 104% surge this year to date, Tesla stock is continuing an epic run this year after bleeding heavily last year. Elon Musk¡¯s first visit to China in three years also saw the EV firm¡¯s shares surging last week and helping CEO Musk reclaim the world¡¯s richest title.

nasdaq/google screengrab

Also, the automaker has enjoyed a series of positive developments over the past week, including the inclusion of its mass-market Model 3 now qualifying for the full $7,500 tax credit across all three of its configurations, as per a Teslarati report. Investors could also be encouraged by further developments from the additional tax credit qualifications, which have brought the cost of the Model 3 down to below $30,000 in some regions with favourable local incentives.

Moreover, Elon Musk has already announced that he will step down as Twitter CEO soon, which will allow him more time at Tesla. And that¡¯s not all. Musk also said last month that Tesla will have its own ¡®ChatGPT-like moment¡¯ by next year, which is a U-turn from his earlier comments that were targeted at stopping AI developments.

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