Elon Musk Officially Becomes Richer Than Warren Buffett

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Tesla’s CEO, Elon Musk has officially become richer than Warren Buffet as he becomes the seventh richest person in the world.

According to Bloomberg, Elon Musk’s fortune increased by more than $6 billion on Friday after Tesla’s stock surged 10.8% to a record $1,544 per share. Its market is valued at $286.5 billion.

Elon Musk owns 20.8% of Tesla’s stock, making his stake worth just under $60 billion. He is also the primary shareholder of privately held SpaceX for about $15 billion, as well as a privately held tunneling company.

His shares reached an all time high of 269% this year. The company’s high value helped him land a $595 million payday earlier this year, making him the highest-paid CEO in the U.S.

Read also: SpaceX to reveal identity of passenger on world’s first private trip around the moon

Warren Buffett’s fortune fell this week after he donated nearly $3 billion worth of Berkshire Hathaway stock to charity which is part of his plan to give away most of his wealth to charity.
The 49-year-old CEO could eventually become the world’s richest person, a spot which is currently held by Amazon CEO Jeff Bezos which is based on a pay package that Tesla shareholders approved in 2018.

 

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