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What Anand Mahindra said as Elon Musk now richer than Bill Gates, Warren Buffett combined

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.

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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