Elon Musk Officially Becomes Richer Than Warren Buffett


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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