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Elon Musk’s net worth nears $400bn, 697% higher than Nigeria’s foreign reserves



South African billionaire, Elon Musk, has further cemented his position as the world’s richest man following the increase in his net worth to $335 billion in the last few days.

In a report on Tuesday, Bloomberg said Tesla’s owner’s net worth is three times more than the former world’s richest man, Warren Buffett’s $104 billion.

It is also 697 percent higher than Nigeria’s $42 billion foreign reserves.

Musk hit the landmark after making $24 billion on Monday, a few days after becoming the first person to hit $300 billion in wealth.

His net worth, according to Bloomberg, has so far increased by $165 billion this year.

READ ALSO: Elon Musk may become world’s first trillionaire as SpaceX eyes Mars

Monday’s gains were driven by an 8.5 percent rise in Tesla’s share price.

The billionaire owned a 22.4 percent stake in the company at the start of the year.

Last week, a 13 percent leap in Tesla’s stock price netted Musk $36 billion – the largest single-day surge Bloomberg had ever recorded – after news emerged that the car-rental firm Hertz ordered 100,000 Teslas.

Musk, 50, now sits at a comfortable $142 billion above the world’s second-richest man – Amazon’s founder, Jeff Bezos, whose net worth was put at $193 billion.

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