Billionaire billionaire Elon Musk has surpassed Warren Buffett's wealth, becoming the seventh richest person in the world, according to the Bloomberg Index of billionaire wealth.
The Bloomberg prospectus said the fortune of Mask, chief executive of Tesla Electric Vehicles, increased $ 6.07 billion on Friday after a 10.8 percent jump in the company’s shares.
Buffett's net worth declined last week after he donated $ 2.9 billion in shares to Berkshire Hathaway, which he heads for charity, the report added.
Tesla shares have jumped 500 percent in the past year as the company increased sales of its third-class sedans.
The stock has increased about 38 percent since its close on July 1, one day before the company announced its quarterly results.
With Tesla achieving strong results, expectations for achieving profits for the second quarter of the year have increased, making it the first time in its history that it has recorded profits for four consecutive quarters.