Elon Musk (file photo). Photograph:( AFP )
Microsoft founder Gates is placed fourth with $130 billion while Buffett is placed 10th with $102 billion
Tesla and SpaceX CEO Elon Musk is now worth more than both Bill Gates and Warren Buffett combined.
According to the Bloomberg Billionaires Index, the 50-year-old’s net worth is $230 billion as of Friday. Microsoft founder Gates is placed fourth with $130 billion while Buffett is placed 10th with $102 billion.
Both Gates and Buffett previously held the world’s richest title. Musk first passed Amazon CEO Jeff Bezos to become the world’s richest man in January with a net worth of $185 billion. Bezos had held the title since 2017.
Musk has added more than $60 billion to his fortune this year thanks to the strong performance of Tesla stock as well as a recent share sale at SpaceX which valued the company at $100 billion. The SpaceX deal added $11 billion to Musk’s net worth, according to Bloomberg.
Gates and Buffett are noted for giving way their wealth, to the tune of tens of billions of dollars to charitable causes, while Musk has been criticised for not giving away enough of his riches.
Earlier this year, Musk pledged to give away $150 million, including a $100 million prize in a carbon removal contest.
Musk grew up in South Africa before moving to Canada aged 17, and then California where he became a young entrepreneur, founding software and then banking companies — one of which was merged to become PayPal.
In the early 2000s he formed aerospace manufacturer SpaceX and electric vehicle company Tesla Motors.
(With inputs from agencies)