Elon Musk’s net worth surged past that of Warren Buffett’s this week on the back of Tesla’s recent boom, Bloomberg reports. Musk’s fortune rose by $6.1 billion Friday to a total of roughly $70.5 billion as Tesla’s stock jumped 11 percent, whereas Buffett’s dropped to $69.2 billion after a $2.9 billion donation and recent lackluster Berkshire Hathaway performance.
The electric car manufacturer’s shares have skyrocketed 269 percent this year. Musk’s one-fifth share ownership of Tesla comprises the bulk of his fortune, his majority ownership of SpaceX much of the rest. He’s the highest-paid CEO in the country with an annual salary of $595 million.