Adam Fayed
1 min readJul 19, 2020

Elon Musk Becomes Wealthier Than Buffett

Tesla’s stock has been skyrocketing in the last few months, and indeed years, despite its lack of profitability as a company.

That big rise has ensured that Elon Musk has overtaken Warren Buffett in the league of the rich and famous, after Buffett donated more money to charity in the last month.

His fortune rose by around $6 billion on Friday, after Tesla’s stock price hit a record of $1,544 per share, valuing the company at $286 billion.

As Musk owns over 20% of Tesla’s shares, that has pushed his net worth up substantially, alongside his holdings in SpaceX.

Musk could overtake Jeff Bezos in the future, if Tesla’s stock keeps increasing, and he gets a new pay package, which would give him stock options, approved by Tesla shareholders.

As Tesla’s shares have skyrocketed by 500% in the last year, it would be advisable for people to think twice before investing in a company which has turned into a speculation.

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