Tesla Inc.’s latest rally has blasted co-founder Elon Musk’s wealth past a new milestone: It now eclipses famed investor Warren Buffett’s fortune by a factor of three.
Musk’s net worth rose by $24 billion to $335.1 billion Monday as the electric automaker’s shares jumped 8.5% in New York. That widened his lead over Amazon.com Inc.’s Jeff Bezos as the world’s wealthiest person to $143 billion, according to the Bloomberg Billionaires Index. Buffett, chairman of Berkshire Hathaway Inc., ranks 10th with a net worth of $104.1 billion.
Up and down Tesla’s shareholder roster, fortunes are ballooning. Singapore-based retail trader Leo KoGuan emerged last week as the company’s third-biggest individual shareholder, rocketing him up the wealth ranks with a net worth valued at $12.1 billion. Larry Ellison, who spent 44 years building software maker Oracle Corp., has only been a big investor in Tesla since 2018, but his stake is now worth $18.1 billion, almost a quarter the value of his Oracle holding.
Buffett’s prodigious philanthropy helps explain some of the growing gap between his and Musk’s fortune. The value investor has donated a portion of his Berkshire stock every year to various charitable organizations, including the Bill & Melinda Gates Foundation. Buffett, 91, said in June that the value of his gifts over the past 16 years totaled $41 billion.
Musk, 50, weighed in on philanthropy over the weekend on Twitter, responding to a United Nations World Food Programme director who had challenged billionaires like Musk to step up to prevent starvation. Musk responded by saying he would sell Tesla stock worth $6 billion “right now” if the U.N. agency could outline how it would use the money to solve world hunger.
Source: bloomberg
In other news – Major League DJz left stranded at Bulawayo Airport
Major League DJz was abandoned by a pilot at Bulawayo Airport. The group’s had a show in Bulawayo on Sunday after its gig in Harare on Saturday was stopped by the police.
Business Times reported eyewitnesses and aviation sources at the Joshua Nkomo Airport as saying the Major League entourage had insisted on flying back to Harare at 10 PM after a gig in Bulawayo. Learn more
