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Elon Musk's net worth zooms past Warren Buffett's, Bloomberg reports

Published 07/11/2020, 12:30 AM
Updated 07/11/2020, 11:50 AM
© Reuters. SpaceX founder and chief engineer Elon Musk speaks at a post-launch news conference to discuss the  SpaceX Crew Dragon astronaut capsule in-flight abort test at the Kennedy Space Center

© Reuters. SpaceX founder and chief engineer Elon Musk speaks at a post-launch news conference to discuss the SpaceX Crew Dragon astronaut capsule in-flight abort test at the Kennedy Space Center

(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.

© Reuters. SpaceX founder and chief engineer Elon Musk speaks at a post-launch news conference to discuss the  SpaceX Crew Dragon astronaut capsule in-flight abort test at the Kennedy Space Center

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.

Latest comments

People are looking at TSLA as mere an ekectric car producer are misding the boat. . Its a Tech & Artificial Intelligence (AI) company with much wider application of its technoligical advancing in coming months and years!!!!
Are the CA factory workers all dead from Covid19 yet?
Bubble
TSLA sold 90k cars, the current market cap is over $250 billion, that is around $3 million market cap per car sold
Yeah, lets play with that a little more...Lets say, they make $5k per car sold (they dont)...To get to a PE of 20, they only need to sell 3 million more cars per year (after becoming profitabke on each vehicle).So, grow 800% in sales whike increasing margin by 10% of sakes price (which they just dropped on Y).Lol. Enjoying the show.
buffet just made money buying stonks and telling other people to buy the stonks he bought, elon musk made money innovating and insulting wallstreet and even calling his own stock overpriced
Easy come easy go. He is a child.
Truth be told as soon as $TSLA falls, he will go back to where he was.
im sure he will be crying still being one of the richest men alive worth billions even if TSLA stock fell 90%
I almost always primarily come for the comments.
I primarily ****because of the comments ahhaahhahahahahahahahahah
All in TSLA at the price of 1200, a sad story.
Berkshire,AT&T, CAT, BA, WMT all those companies received money from FED. Keep profits and socialize losses. Name of the game.
Free Teslas for all. how does Musk get paid if his company hasn't made money?
Capital appreciation...
The irony that Buffett many times refuse to invest in America-EV-made Tesla but invested in China-EV-made BYD.
BYD sells more cars
 So does NIO
ELON should get more capital at his disposal to accelerate innovation in technology.
Omg I'm dying for your Tesla give me free for charity 😊
What kind of charity is Buffet donating to anyway?  Leftist ******clinics, third world countries, and a big fat goose egg for struggling Americans.
Billy Gates, the monster who wants to depopulate the earth, not a leftist?  Ok, Chicom.
How many times has Buffet begged government to raise taxes while simultaneously hiring an army of tax lawyers to utilize every loophole in the book?  He is a classic limousine liberal, a total hypocrite.
Is it a strict requirement that everyone on this forum be an alt-right troll? Dont you have anything better to do?
Mark Zuckerberg doesn't deserve to be 3rd. Hopefully Musk will dethrone him as more advertisers drop FB.
Seriously for creating a platform to gossip and share silly pics. That's similar to putting a reality start buffoon in the white house
The fact Warren Buffet gives to charity is commendable. But as Larry Page confessed six years ago, he'd rather give billions to Elon Musk than to charity. The Google founder said Musk's ambitions for humanity is "philanthropical".... beyond the talked about automation EV push and SpaceX space-faring goals, his Neurallink company strives to symbiotically fuse neural network deep learning AI with our brains to potentially cure debilitating ailments that have plagued humanity for eons. Faster than sound underground travel via SpaceX subsidiary Hyperloop may one day evolve to harbor civilizations from harmful radiations on Mars due to its thin atmosphere. Boring Co. will do the drilling.Gigafactories that aim to revolutionize renewable energy storage & production. Solarcity, though struggling to gain traction, strive to distant our cities from non-renewable energy dependency. Probably more projects are brewing in Musk's head as we speak.
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