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.