OMG! This man is richer than Warren Buffett

New Delhi: After the carmaker’s stock surged 11%.Tesla Inc.’s chief executive officer rose $6.1 billion on Friday and Elon Musk is the latest tech entrepreneur to rise above Buffett in the ranks of the world’s richest person.

Musk is now the world’s seventh-riches. The 49-year-old owns about a fifth of Tesla’s outstanding stock, which comprises the bulk of his $70.5 billion fortune. His majority ownership of closely held SpaceX accounts for about $15 billion.

According to the Bloomberg Billionaires Index, shares of the electric-car maker have risen 269% this year. The company’s booming valuation helped Musk land a $595 million payday earlier this year, making him the highest-paid CEO in the U.S.

Musk is the latest tech entrepreneur to rise above Buffett in the ranks of the world’s richest. Steve Ballmer, the former Microsoft Corp. CEO, and Google’s co-founders Larry Page and Brin also have leapfrogged the Oracle of Omaha. And Indian tycoon Mukesh Ambani surpassed Buffett this week.

Buffett’s fortune dropped earlier this week when he donated $2.9 billion in Berkshire Hathaway stock to charity. The 89-year-old has given away more than $37 billion of Berkshire shares since 2006.