California’s Tesla Chief Elon Musk overtakes Buffet as world’s 7th-richest man



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California’s Tesla Chief Elon Musk overtakes Buffet as world’s 7th-richest man

On Friday, the Palo Alto, CA-based e-vehicle industry trailblazer Tesla Inc. chief Elon Musk’s net asset had stormed past Warren Buffet on Friday as the Tesla Inc. boss became the world’s seventh-richest person on record, a Bloomberg News report had unveiled citing the Bloomberg Billionaires Index.

In point of fact, the fortune of Tesla Inc. boss, Elon Musk, who was born to a South African father and a Canadian mother and raised in Pretoria, S. Africa and had left the southernmost tip of the world at the age of 17 and later became a billionaire technology entrepreneur and philanthropist, surged by $6.07 billion on Friday following a 10.8 per cent climb in the electric carmaker’s stock price.

Besides, the Bloomberg report had also added that the 90-year-old American business tycoon and the CEO of investment fund Berkshire Hathaway, whose investment strategy usually involved in joining a buying spree when the market is selling off, Warren Buffet’s net worth had dropped earlier this week by $2.9 billion, since he had donated $2.9 billion worth of Berkshire Hathaway stock to charity.

Tesla shares surge over 500% over the past year despite a steep drop in sales of passenger cars

In factuality, Tesla stocks rose by more than 38 per cent since July 1, a day before the company was scheduled to report its quarterly delivery numbers, while following reveal of a solid quarterly delivery numbers despite the ongoing pandemic outbreak, Tesla Inc.

stocks had added further bullish wing, riding over the roaring possibility of a profitable second quarter when other big-league carmakers had been seeking for bailout packages in order to grapple with the pandemic-driven economic downturn.

Aside from that, the NYSE-listed Tesla Inc. stocks, which added 10.78 per cent on Friday to wind down the day at $1,544.65 per share, registering a meteoric rise of nearly 200% since the beginning of the year, had always been a favourite to the short-sellers, while the fact alone had contributed significantly for the Tesla Inc.

stocks to surge more than 500% over the past year apart from the robust delivery figures of its Model 3 Sedans, suggested analysts.