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    Billionaire Elon Musk's net worth zooms past Warren Buffett's

    Synopsis

    Musk's fortune rose by $6.07 billion following a 10.8% jump in the electric carmaker's stock.

    Agencies
    Buffett's net worth dropped earlier this week when he donated $2.9 billion in Berkshire Hathaway stock to charity.
    Elon Musk's net worth soared past Warren Buffett on Friday 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.

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    2 Comments on this Story

    The AB22 days ago
    Warren buffet’s weath is due to drop in share prices of very strong enterprises including Apple which is 40% of his portfolio. The drop in prices is due to a global pandemic which is comprehendable by every investor and logical. In the same period and for the same reasons applicable we are reading stroies of 100% to 500% appreciation and overtaking buffet. Crude prices are down to a fourth, internal combustion engines are there to stay. And thanks to that we will be saved from battery radiation.
    What a fake rally globally. In the US where 1% per annum is the ROI that exists for centuries, 500% ROI means its a joke.
    Better to have a hearty laugh.
    Nathan Ron23 days ago
    Kudos to Tesla in the US market. But when are .....you Mr Musk, pulling out of your China investments????? Xipeng Motors and another China copy cat company will soon cycle Elon Musk's Tesla out of the Chinese market. Losses from China will be substantial. Invest in India with your Power Storing Batteries, Teslas and as well as be a private industry player in ISRO's space programmes. Never under estimate India.
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