Tesla CEO Musk’s fortune up by $6 bln, net worth above Warren Buffett’s, says report
Elon Musk’s net worth soared past Warren Buffett on Friday as the chief executive officer of Tesla Inc became the seventh richest person in the world, according to the Bloomberg Billionaires Index.
Musk’s fortune rose by $6.07 billion on Friday, Bloomberg News said, following a 10.8 percent jump in the electric carmaker’s stock.
Buffett’s net worth dropped earlier this week when he donated $2.9 billion in Berkshire Hathaway stock to charity, the report added.
Tesla’s shares have surged 500 percent over the past year as the company increased sales of its Model 3 sedan.
The blistering rally also puts Musk in reach of a payday potentially worth $1.8 billion, his second jackpot from the electric car maker in about two months.
The stock is up about 38 percent since the close on July 1, a day before the company reported its quarterly delivery numbers.
Tesla’s solid delivery numbers heightened expectations of a profitable second quarter, which would mark the first time in its history that it would report four consecutive quarters of profit.
For all the latest headlines follow our Google News channel online or via the app
-
'Back in the game': Elon Musk's SpaceX rocket ship blasts off with 2 astronauts
A rocket ship built by Elon Musk’s SpaceX company thundered away from Earth with two Americans on Saturday, ushering in a new era in commercial space ... Technology -
Critics troll Elon Musk after he posts the Cybertruck’s pre-launch video
Tesla CEO Elon Musk responded to critics on Saturday by posting a pre-launch video that shows the front window of the Cybertruck remaining intact ... Technology -
Elon Musk: About 150,000 orders thus far for Tesla Cybertruck
Tesla Inc Chief Executive Elon Musk said on Saturday that there have been about 150,000 orders thus far for the electric carmaker’s Cybertruck, ... Economy -
Coronavirus: Buffett’s Berkshire Hathaway sells entire stakes in top US airlines
Berkshire Hathaway Inc has sold its entire stakes in the four largest US airlines, Chairman Warren Buffett said on Saturday at the company’s annual ... Coronavirus -
Coronavirus cannot stop America, despite huge Berkshire loss: Warren Buffett
Warren Buffett on Saturday gave an upbeat assessment of the United States' ability to withstand crises, even as he acknowledged that the coronavirus ... Coronavirus