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Bitcoin-friendly Elon Musk overtakes Warren Buffet in the Billionaires’ chart

The wealth of Tesla’s Chief Executive Officer Elon Musk grew wider, as he leapfrogs Warren Buffet in the Billionaires’ chart. However, while Musk is a strong advocate of Bitcoin and cryptocurrency adoption, Buffet prefers the more conventional financial way and doesn’t favor cryptocurrency.

According to a report by Bloomberg, Musk was able to climb up the billionaires’ ladder when the price to buy Tesla stocks rose by 11%, which added $6.1 billion to his wealth.

With this addition, Billionaire Index data from Bloomberg shows that the entrepreneur’s wealth is now an astonishing $70.5 billion. On the other hand, Warren Buffet is still worth $69.2 billion. Although Musk leads Buffet by a small fraction, it’s the first time the Tesla owner is topping the investor in the billionaires’ index.

With the additional wealth of Musk, it means he is now richer than the Chief Executive Officer of Oracle Corporation Larry Ellison.

With the Tesla Boom, it also indicates that Musk is currently the highest-paid chief executive in the U.S., as a result of a deal he made two years ago.

Different views on Bitcoin

When it comes to Bitcoin and cryptocurrency, Musk and Buffet share different views. While Musk supports the adoption of the cryptocurrency, Buffet has a more reserved opinion on the leading crypto coin.

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Buffet has always been a strong critic of Bitcoin, as he once said the cryptocurrency has “no unique value at all.” He also famously said Bitcoin is a “rat poison squared.”

Even after the Chief Executive Officer of Tron Justin Clever organized a $4.7 million charity dinner for him, it still didn’t change his mind or opinion about Bitcoin.

On the other hand, Musk has hailed the invention of the coin, once calling it, “pretty clever.”

Musk has a small investment on Bitcoin

In January, Musk admitted that he sees Bitcoin replacing cash in the future. In his words, he said the cryptocurrency can be a “replacement for cash.” Again, in response to JK Rowling’s tweet, Musk said Bitcoin looked solid compared to the currency issued by the government.

But he said he only owns about $2,500 worth of the asset. He admitted his best cryptocurrency is Dogecoin, although it’s not clear whether he was serious. After admitting his intangible investment on the coin compared to his wealth, Bitcoin enthusiasts joked why the billionaire would not invest more in the cryptocurrency.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.