What Anand Mahindra said as Elon Musk now richer than Bill Gates, Warren Buffett combined
PremiumTesla CEO Elon Musk has added more than $73.1 billion to his fortune this year
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Mahindra Group Chairman Anand Mahindra is full of praises for Elon Musk as Tesla CEO's wealth swelled past Bill Gates, Warren Buffett's fortune combined. “Market value is now not a multiple of current earnings but a multiple of Audacity, Ambition & Courage," Mahindra tweeted on Tuesday.
“Rightly, that is a formula that promises outsize future earnings…" he added.
Musk has added more than $73.1 billion to his fortune this year owing to the strong performance of Tesla stock as well as a recent share sale at SpaceX which valued the company at $100 billion.
Elon Musk's net worth is $230 billion as of Tuesday morning, according to the Bloomberg Billionaires Index.
Microsoft co-founder Gates sits in fourth place with $131 billion and Warren Buffett is No. 10 with $103 billion.
Bezos is the second-wealthiest person on earth with a $199 billion net worth.
Tesla Inc. shares are staging a comeback as investors expect the Elon Musk-led electric carmaker to navigate the crippling semiconductor shortage better than rivals that have been severely disrupted.
The stock gained as much as 3.8% to $875.26 on Monday in New York, before closing at $870.11, up nearly 55% from a March 8 low of $563.
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Tesla shares currently trade at 120 times their 12-month forward earnings, making them the most expensive stock on the NYSE+ FANG Index, whose other nine members include Nvidia Corp., Alphabet Inc., Apple Inc., Twitter Inc., Facebook Inc., Amazon.com Inc., Netflix Inc., Alibaba Group Holding Ltd. and Baidu Inc.
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