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Elon Musk is now officially richer than Warren Buffett after Tesla's stock hits an all-time high

Posted On: Jul 10, 2020   |   Posted By: Business Insider

Elon Musk is officially more wealthy than Warren Buffett.
Tesla stock, of which Musk is the largest holder, skyrocketed to record highs this week.
Buffett, meanwhile, donated almost $3 billion of Berkshire Hathaway stock, causing his riches to shrink.
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Elon Musk's wealth officially surpassed that of Warren Buffett on Friday, according to Bloomberg's Billionaire's Index, fueled by Tesla's skyrocketing stock price and a hefty donation by the Oracle of Omaha.
Musk, CEO of Tesla and the electric carmaker's biggest shareholder, saw his riches surge by more than $6 billion on Friday alone, to hit $70.5 billion, as the company's market value capped off a week of fresh highs. The stock is up 259% in 2020 compared to the benchmark S&P 500 index's 1% gain.
Musk is now No. 7 on the list, up from No. 12.
Buffett, easily the world's most famous investor and still a multi-billionaire in his own right, saw his fortune decline this week after giving away $2.9 billion of...

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