Elon Musk has become the world’s richest person for the second time this year, with his net worth surpassing $200 billion. The majority of Musk’s wealth is invested in Tesla stock, which has seen its value increase by more than 100% in 2018. This surge in Tesla stock is largely due to a series of successes that the company has had this year, including making all three of the Model 3’s trim levels eligible for the full $7,500 tax credit.
The increase in Musk’s wealth is in stark contrast to a loss of $200 billion in net worth last year. However, his fortune has now increased by $65.1 billion so far this year and he has surpassed Bernard Arnault to become the richest person in the world.
Elon Musk‘s success this year is not only due to the success of Tesla, but also to his first trip to China in three years. This trip is likely to have had a positive effect on Tesla‘s stock as the company has seen an increase in demand for its Electric vehicles in the Chinese market.
Tesla‘s stock has been a major contributor to Elon Musk‘s net worth this year and it is likely to remain a key factor in his continued success. However, he will need to continue to innovate and improve Tesla‘s products and services in order to maintain his position as the world’s richest person.
The success of Tesla and Elon Musk this year is a testament to the power of innovation and the potential of Electric vehicles. With Musk’s continued success, this could be the year that Electric vehicles become a mainstream form of transportation.