Jul 11 (Reuters) – The net worth of Elon Musk’s fortune surpassed that of Warren Buffett on Friday, when CEO of Tesla Inc. became the seventh-richest person in the world, according to the Bloomberg Billionaires Index .
Musk’s fortune rose by $ 6.07 billion on Friday, Bloomberg News said, after a 10.8% jump in shares of the electric car maker.
Buffett’s net worth fell earlier this week when he donated $ 2.9 billion in Berkshire Hathaway stock to charity, the report added.
Tesla shares have risen 500% in the past year, after the company increased sales of its Model 3 sedan.
The breakneck rally also puts Musk within reach of a payout of about $ 1.8 billion, his second big bonus from the electric car maker in about two months.
The shares are up 38% since the close on July 1, the day before the company reported its quarterly delivery numbers.
Tesla’s strong delivery figures raised expectations for a profitable second quarter, which would mark the first time in its history that it would report four consecutive quarters of earnings.
(Report of Shubham Kalia in Bengaluru; Edited in Spanish by Javier López de Lérida)