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Elon Musk Is The Seventh Richest Person In The World

Fintech

News

July 14, 2020, 3:04 p.m.

Elon Musk is now the seventh-richest person in the world. Based on this, he surpasses legendary investor, Warren Buffet.

The development comes at a time that Tesla’s stock continues to skyrocket.

Tesla’s shares skyrocketed last Friday making Musk’s net worth rise to $70.5 Billion, which is roughly $1 Billion more than Buffet’s net worth.

As at Monday, Tesla’s share continues to rise and jumped to 12% in morning trading and has the company currently valued at $325 Billion which makes the company the 10th-largest US stock market value.

Investors now believe that Tesla could report a fourth straight quarter of GAAP profits when it posts second-quarter results on July 22, meaning it could be considered for inclusion in the S&P 500.

The company’s stock is up more than 300% for the year.

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