Tesla Founder Musk Surpasses Buffett to Become 7th Richest Person in the World

[Image source=Yonhap News]

[Asia Economy Reporter Donghyun Choi] Elon Musk, CEO of electric vehicle company Tesla, has surpassed Warren Buffett, chairman of the American Berkshire Hathaway and a global investor, in net worth thanks to rising stock prices.

According to Bloomberg's tally, Musk's assets reached $6.07 billion (approximately 7.3 trillion KRW) on the 10th (local time), surpassing Buffett to rank 7th among the world's richest people.

This is due to Tesla's stock price continuing its high-flying streak, rising 10.8% to $1,544 per share (approximately 1.85 million KRW).

Choosing stock options based on business performance instead of bonuses or salary, Musk achieved his first stock option worth $775 million (approximately 958 billion KRW) in May, and is now on the verge of achieving a second option valued at about $1.8 billion (approximately 2.17 trillion KRW).

After Tesla's stock price surged 500% last year, it overtook Japan's Toyota on the 1st to become the company with the highest market capitalization. Expectations for a second-quarter profit are rising as vehicle deliveries in Q2 exceeded market forecasts and sales of the 'Model 3' sedan showed strong performance.

This content was produced with the assistance of AI translation services.