Tesla's Elon Musk has overtaken Warren Buffett on the billionaires index after Tesla stock soars.
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Elon Musk's net worth has overtaken that of billionaire investor Warren Buffett.

The Tesla founder is now the world's seventh richest person according to Bloomberg's Billionaires Index, with Musk's estimated net worth exceeding US$70 billion (AU$100.7B).

Warren Buffett, one of the world's most successful investors and part-owner of Chinese electric vehicle manufacturer BYD, sits in tenth place.

Buffett's ranking has slid in the past year after wiping more than US$20 billion (AU$29B) off his net worth over the past twelve months. While the majority of that loss can be attributed to poor investment performance, Buffett has also donated nearly US$3B (AU$4.3B) to charity.

Meanwhile, Musk's net worth increased by US$40B over the same period due to Tesla stock soaring by 269% this year. Musk owns around 20 per cent of Tesla.

The American electric car maker overtook Toyota as the most valuable car company in the world at the beginning of July, with the valuation handing Musk a US$595 million salary.