- Title: Billionaire Musk's net worth zooms past Warren Buffett's - Bloomberg News
- Date: 11th July 2020
- Summary: NEW YORK, NEW YORK, UNITED STATES (FILE - JANUARY 27, 2017) (REUTERS) BERKSHIRE HATHAWAY CEO, WARREN BUFFETT, AND MICROSOFT CORPORATION FOUNDER, BILL GATES, WALKING ON STAGE MODERATOR CHARLIE ROSE BUFFETT TALKING (NOT A SOUNDBITE) OMAHA, NEBRASKA, UNITED STATES (FILE - APRIL 30, 2016) (REUTERS) VARIOUS OF WARREN BUFFETT TALKING TO REPORTERS
- Embargoed: 25th July 2020 09:11
- Keywords: Berkshire Hathaway Elon Musk Tesla Warren Buffet net worth
- Location: VARIOUS
- City: VARIOUS
- Country: USA
- Topics: Economic Events
- Reuters ID: LVA004CMD6JBB
- Aspect Ratio: 16:9
- Story Text: Elon Musk's net worth soared past Warren Buffett on Friday (July 10) 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% 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% 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.
(Production: Njuwa Maina)
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