+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

Elon Musk is now 3 times as rich as Warren Buffett and worth more than the GDP of his home country of South Africa

Nov 2, 2021, 15:57 IST
Business Insider
Elon Musk on August 13, 2021 at a press event on the grounds of the Tesla Gigafactory near Berlin. Patrick Pleul/picture alliance via Getty Images
  • Bloomberg estimated Tesla CEO Elon Musk's net worth at $335 billion after Tesla's stock rose again.
  • Tesla's stock has risen 65.6% this year, including an 8.5% gain on Monday.
Advertisement

Just days after Elon Musk became the first person to hit $300 billion in wealth, the Tesla CEO is now worth three times as much as the investing wizard Warren Buffett.

That's according to the Bloomberg Billionaires Index, which on Monday estimated the tech mogul's fortune at $335 billion after a $24 billion single-day gain. In comparison, the Berkshire Hathaway CEO Buffett was worth an estimated $104 billion.

Musk's wealth on the index is higher than the gross domestic product of his home country, South Africa, which totaled $301.9 billion last year, per data from the World Bank.

As tracked by Bloomberg, Musk's net worth has soared by $165 billion this year. His gains Monday were driven by an 8.5% rise in Tesla's share price, Bloomberg first reported. The multibillionaire owned about 22.4% of the company at the start of the year.

Last week, a 13% leap in Tesla's stock price netted Musk $36 billion - the largest single-day surge Bloomberg had ever recorded - after news emerged that the car-rental firm Hertz ordered 100,000 Teslas.

Advertisement

Musk, 50, now sits at a comfortable $142 billion above the world's second-richest man - Amazon's founder, Jeff Bezos, whose net worth Bloomberg puts at $193 billion.

Tesla's stock is up 65.6% this year, despite dips in March and May.

On Sunday, Musk tweeted that he was open to selling shares in the electric-car maker worth $6 billion to alleviate world hunger based on a plea from the director of the UN's World Food Programme.

You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article