Recent Tesla stock surge makes Elon Musk richer than Warren Buffett

Tesla IPO Elon Musk

The recent surge in the price of Tesla shares (TSLA) has led to CEO Elon Musk climbing the ranks of the list of the richest people in the world.

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With the nearly 11% price increase to close at $1,544.65 on Friday, Musk’s personal net worth rose $6.1 billion in just one day, now making him the seventh richest person in the world.

TSLA shares July 10 2020

Thanks to his ownership stake of about 20% in Tesla, and his 15% stake in his next biggest venture (for now), SpaceX, his fortune has grown to $70.5 billion (via Fortune), surpassing the likes of Warren Buffett and Sergey Brin, co-founder of Google.

Richest in the world

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Musk could be rising in the ranks even more soon, as he is nearing his next big payday that could be worth up to $3 billion or more.

Buffett spoke about Tesla and Elon Musk in a recent interview, and reiterated his intention that he would not invest in Tesla. Perhaps if had taking some of his vast wealth and invested it in the electric automaker, he would be near the top of the list right now.

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Founder and Editor-in-chief of Drive Tesla Canada | Darryn@DriveTeslaCanada.ca Have a Tesla tip? Email tips@driveteslacanada.ca, or DM us on Twitter @DriveTeslaca