Tesla CEO Elon Musks wealth skyrocketed Fridaymaking him richer than billionaire investor Warren Buffett.
Its out with the old and in with the new; the pair hold wildly different opinions about Bitcoin and the future of money and Musks tech-first business logic appears to have paid off.
Musks wealth shot up by $6.1 billion after Tesla stock rose by 11%, according to a Bloomberg report. The eccentric entrepreneurs net worth now stands at a staggering $70.5 billion, data from the Bloomberg Billionaires Index shows.
While Buffettwho has clashed with Musk in the pastis worth just $69.2 billion. The SpaceX founders wealth spurt also means he is now richer than Larry Ellison, the CEO of tech giant, Oracle Corporation.
The Tesla boom also means Musk is the highest paid CEO in the US, according to the Bloomberg Pay Index: thanks to a deal the CEO made two years ago, he earned $595 million in one day.
Buffett has always criticized Bitcoincalling the cryptocurrency rat poison squared and saying it has no unique value at all. A $4.7 million charity dinner with the CEO of Tron, Justin Sun, didnt change his mind, even after Sun gifted him a Bitcoin.
Musk, on the other hand, has praised it, calling it pretty cleverbut has admitted he owns just $2,500 of the asset.
Musk then became the butt of Bitcoin enthusiasts jokes for not spending more of his fortune on the cryptocurrency. (In March, he said his favorite cryptocurrency was Dogecointhough it wasnt clear if he was being serious.)
Musk also said in January that Bitcoin can be a replacement for cash and in May responded to a JK Rowling tweet by telling her that Bitcoin looked solid by comparison to massive currency issuance by the government.
The differences dont stop there, though.
Buffett, one of Bitcoins most outspoken critics, runs the investment firm, Berkshire Hathaway. Known as the Oracle of Omaha, the investor has led a frugal life. In comparison, car-maker Musk is known for his outburstsparticularly on Twitterthat have caused him trouble in the past.
In May, the 49-year-old tech mogul wiped $15 billion off Tesla stock after a bizarre Twitter rant where he said his companys stock was too high.
Now Musk has an extra $6 billion to spare, maybe hell invest in Bitcoin.
Read more here:
Bitcoin friendly Elon Musk is now richer than Bitcoin hater Warren Buffett - Decrypt
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