Posted on: Saturday 11th July 2020 – 2:43 pm | Last update: Saturday, July 11, 2020 – 2:43 PM
The Bloomberg Bulletin said the fortune of Musk, CEO of Tesla Electric Vehicles, increased $ 6.07 billion on Friday, after a 10.8% jump in the company’s shares, according to Reuters.
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% in the past year, with the company increasing sales of its third-class sedans.
The stock has increased about 38% since the close on the first of July, 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.