Elon Musk has soared in the ranking of billionaires

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Tesla shares this year rose by 269%.

As the CEO of Tesla Inc.’s Elon musk grew by $ 6.1 billion. on Friday, after shares of the automaker jumped by 11%. Musk is now the world’s seventh richest man, he bypassed the technological titans of Larry Ellison and Sergey Brin, reports the Chronicle.IPV with reference to the Comments.

49-year-old entrepreneur owns about a fifth of the Tesla stock, which constitute a large part of its state at 70.5 billion dollars. His controlling stake in Space X is around $ 15 billion.

Shares of the electric car manufacturer this year, increased by 269%. Fast growing company has helped MASCO to 595 million dollars. salaries in the beginning of this year, making him the highest paid CEO in the United States.

Musk is the latest technological entrepreneur who rose above Buffett in the ranks of the richest people in the world. Steve Ballmer, former CEO of Microsoft Corp. and Google co-founders Larry page and Sergey Brin went to the Oracle of Omaha. Indian tycoon Mukesh Ambani has outranked Buffett this week.

Mike Novogratz, the Manager for funds, who now manages digital currency investment Galaxy Digital Holdings Ltd., warned that the valuation of technology companies are too high and that small investors should leave the market before it collapses.

The as Buffett dropped earlier this week when he donated 2.9 billion. in Berkshire Hathaway shares to charity. 89-year-old in 2006, he sold shares of Berkshire more than $ 37 billion.