Elon Musk named 7th richest man in the world

Elon Musk is now worth more than Warren Buffett, making the Tesla CEO the seventh-richest person on the planet, according to Bloomberg‘s Billionaire Index.

Musk, who also runs SpaceX and the Boring Company, is now worth $70 billion, still pretty far behind the No. 1 on the list, Amazon CEO Jeff Bezos, and his $189 billion.

Also ahead of Musk on the list, in order from No. 2 down: Bill Gates, Mark Zuckerberg, Bernard Arnault, Steve Ballmer, and Larry Page.

Tesla’s stock has risen from $430 to $1,544 per share so far this year, Yahoo Finance reports, and most of Musk’s fortune comes from his Tesla stock.

Forbes noted earlier this month that Musk’s fortune had soared by $20 billion since March.

CNN notes Musk added $6 billion to his worth Friday (the day Tesla’s stock soared to the record $1,544 per share) while Buffett’s went down by $3 billion when he donated about that much Berkshire Hathaway stock to charity; he plans to give away most of his fortune before he dies. But Bloomberg notes that if electric cars catch on more widely, forcing Tesla to give up its monopoly, the Tesla bubble will inevitably burst.

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