Elon Musk’s destiny has won him a big fortune! He has surpassed Warren Buffet to become the world’s seventh wealthiest man. And, is also ahead of tech titans Larry Ellison and Sergey Brin.
Bloomberg Index
According to Bloomberg billionaires index, the car maker’s market value stood at $286.5 million. This was after Tesla’s stock surged 10.8% to a record $1,544 per share. Musk owns 20.8% of Tesla’s stock, making his stake worth just under $60 billion. Musk is also the primary shareholder of privately held SpaceX, as well as a privately held tunneling company.
Shares of the electric car-maker have risen 269 per cent this year. The firm’s booming valuation helped Musk land a US$595 million pay-day earlier this year, making him the highest-paid CEO in the U.S.
What does Mike Novogratz have to say on this?
Mike Novogratz, the longtime money manager who now runs digital currency investor Galaxy Digital Holdings Ltd., warned that valuations of technology companies are getting way too high and that small investors should get out of the market before it crashes.
“We are in irrational exuberance — this is a bubble,” he said Friday in a Bloomberg Television interview. “The economy is grinding, slowing down, we’re lurching in and out of Covid, yet the tech market makes new highs every day. That’s a classic speculative bubble.”
Elon Musk to Joe Rogan on his podcast!
Then there’s the question of what to do with such wealth. “It doesn’t make a lot of sense in most cases if you’ve basically organized a company,” Musk told Joe Rogan on his podcast in May. “How does this wealth arise? If you organize people in a better way to produce products and services that are better than existed before, and you have some ownership in that company, then that essentially gives you the right to allocate more capital.”
Warren Buffet donates to a charity!
Elon Musk’s destiny has won him a big fortune, whereas Buffett’s fortune dropped earlier this week when he donated US$2.9 billion in Berkshire Hathaway stock to charity. The 89-year-old has given away more than US$37 billion of Berkshire shares since 2006.
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