Bloomberg: Elon Musk is now richer than Warren Buffett

According to the Bloomberg Billionaires Index, Tesla CEO Elon Musk’s net worth increased by $ 6.1 billion on July 10, after the electric carmaker’s stock continued to break up with 11%. Currently, Elon Musk is the 7th richest billionaire in the world, behind two other technology tycoons, Larry Ellison and Sergey Brin.

The 49-year-old billionaire currently holds about one-fifth of Tesla’s outstanding shares, making up the majority of his $ 70.5 billion fortune. In addition, he also owns a majority stake in SpaceX for about $ 15 billion.

This year, shares of electric car manufacturers rose 269%. Tesla’s explosive growth momentum has helped Elon Musk earn $ 595 million this year, making him the highest-paid CEO in the United States.

Currently, Elon Musk is the latest technology entrepreneur to surpass Warren Buffett’s position on the billionaire rankings. Steve Ballmer, former Microsoft CEO, and Google co-founders Larry Page and Brin have also surpassed the “sage of Omaha”. This week, the wealth of the richest billionaire in Asia, Mukesh Ambani, also surpassed Warren Buffett.

Warren Bufett’s fortune diminished earlier this week when he spent $ 2.9 billion of Berkshire Hathaway’s stock on charity. Since 2006, the 89-year-old billionaire has donated more than $ 37 billion in Berkshire stock.

Meanwhile, Mike Novogratz, a property manager who now runs the crypto investment firm Galaxy Digital Holdings, warns that tech companies’ valuations are too high and retail investors. should run away before tech stocks crash. “We are in a state of irrational excitement, this is a bubble. The economy is weakening, slowing down, we still face the danger from the Covid-19 pandemic,” he said. , technology stocks are at the top every day. This is really a typical speculative bubble. ”

Refer to Bloomberg