Bloomberg’s Billionaires Index has revealed that Elon Musk, CEO of Tesla and SpaceX, has leapfrogged famed investor Warren Buffett in wealth ranking.
Tesla’s market cap has propelled Musk’s fortune over $70 billion, making him the seventh richest person in the world.
Musk was ranked 12th on last year’s list.
Buffett’s ranking slipped due to a massive donation last week of $2.9 billion in Berkshire Hathaway stock.
According to Markets Insider, Buffett has given away $37 billion in wealth over the past 14 years.
Tesla’s stock hit a record last week, when it reached $1,544 per share.
This surge meant the value for Musk, Tesla’s largest shareholder, was around $6 billion.
At this point in time, six of the seven richest people in the world are executives involved in the tech sector.
