Musk becomes the seventh richest man in the world overtaking Ambani, Buffett
By MYBRANDBOOK
Elon Musk, Tesla CEO’s wealth rose $6.1 billion and making him the world's seventh richest person, according to the Bloomberg Billionaires Index. Musk, with a net worth of $70.5 billion, is now ahead of Google Co-Founder Sergey Brin, Mukesh Ambani and Warren Buffett. Buffett's net worth dropped recently when he donated $2.9 billion in Berkshire Hathaway stock to charity.
According to the Bloomberg Billionaires Index, the fortune of Tesla Inc.’s Chief Executive Officer rose $6.1 billion on Friday, 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 SpaceX accounts for about $15 billion. Shares of the electric-car maker have risen 269% this year. The company’s booming valuation helped Musk land a $595 million payday, making him the highest-paid CEO in the U.S.
Musk is the latest tech entrepreneur to rise above Buffett in the ranks of the world’s richest. Steve Ballmer, the former Microsoft Corp. CEO, and Google’s co-founders Larry Page and Brin also have leapfrogged the Oracle of Omaha. And Indian tycoon Mukesh Ambani surpassed Buffett this week. Mike Novogratz, the longtime money manager who now runs digital currency investor Galaxy Digital Holdings Ltd., warned that valuations of technology companies are getting way too high and that small investors should get out of the market before it crashed.
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