Elon Musk's net worth zooms past Warren Buffett's, Bloomberg reports
Reuters
Published Jul 11, 2020 12:30AM ET
Updated Jul 11, 2020 11:50AM ET
(Reuters) - Elon Musk's net worth soared past Warren Buffett on Friday as the chief executive officer of Tesla Inc (O:TSLA) 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% jump in the electric carmaker's stock.
Buffett's net worth dropped earlier this week when he donated $2.9 billion in Berkshire Hathaway (N:BRKa) stock to charity, the report added.
Tesla's shares have surged 500% 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% 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.
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Written By: Reuters
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