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Elon Musk is now richer than Warren Buffett.
The fortune of Tesla Inc.’s founder rose $6.1 billion on Friday, according to the Bloomberg Billionaires Index, after the carmaker’s stock surged 11%. Musk is now the world’s seventh-richest person, also ahead of tech titans Larry Ellison and Sergey Brin.
The 49-year-old owns about a fifth of Tesla’s outstanding stock, which comprises the bulk of his $70.5 billion fortune. His majority ownership of closely held Space-X accounts for about $15 billion.
Shares of the electric car-maker have risen 269% this year. The firm’s booming valuation helped Musk land a $595 million pay-day earlier this year, making him the highest-paid CEO in the U.S.
Musk is the latest tech entrepreneur to rise above Buffett in the rank’s of the world’s richest. Steve Ballmer, the … Read More