There appears to be no ceiling for the growth in wealth of the world’s richest man and owner of Tesla Inc, Elon Musk. Monday’s over 8 per cent rally in shares of the electric vehicle company saw Musk’s wealth surge $9 billion in a day to over $311 billion.
The surge in his wealth helped the billionaire add another milestone to his ever-burgeoning list: He is now three times as rich as Berkshire Hathaway owner and world’s most famous investor Warren Buffett and India’s richest man Mukesh Ambani.
Warren Buffett’s wealth stood at $105 billion as on Monday whereas, Mukesh Ambani’s was at $95.8 billion. Buffett and Ambani occupied the 10th and the 11th spot on Bloomberg Billionaires’ Index.
According to Bloomberg Wealth, the continental gap in Buffett and Musk’s wealth is also explained by the former’s philanthropic activities over the years. Buffett donates a portion of his stake in Berkshire Hathaway every year to philanthropy and the estimated value of his donations over the past 16 years is at $41 billion.
The astonishing wealth of Musk is largely down to the performance of Tesla, which has continued to defy sceptics as it soared to record highs. The company is a bet on the future of automobiles in the world as it looks to dominate the premium segment of the electric vehicle market in the coming years.
Tesla is already in the works to bring its famous cars to the Indian road given the current government’s renewed push towards electrification of the country’s automobile fleet. Tesla’s entry into India has also sparked a rat race among Indian manufacturers to leapfrog the US-based carmaker to capture one of the world’s largest automobile markets by volume.
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Tesla CEO Elon Musk has become the first person to cross the $300 billion net-worth threshold after his fortune surged by $10 billion in a day thanks to a Tesla share spike, a day before Microsoft regained the title of world’s most valuable company, Daily Mail reported.