Life very much appears to be a rollercoaster for Telsa and SpaceX supremo Elon Musk, as a massive rise in Tesla stock over the weekend saw him become the world’s seventh wealthiest person, rocketing past Warren Buffett.
Thanks to a huge 10.8% surge in Tesla stock over the weekend, taking shares in the company to a record $1,544 per share, and a market valuse of $286.5 billion.
As the owner of 20.8% of Tesla stock, the rise in share price meant that Musk’s personal fortune rose more than $6 billion, making his total stake worth just under $60 billion.
Musk is also the primary shareholder of privately held SpaceX, as well as a privately held tunneling company.
Tesla’s stock is up more than 500% over the past 12 months, making the electric car maker is the most valuable auto company on the planet.
By comparison, Buffett’s fortune dropped this week after he donated nearly $3 billion worth of his personal stock options to charity, as part of his plan to give away most of his wealth to philanthropic ventures.
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