Elon Musk's net worth has overtaken that of billionaire investor Warren Buffett.
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.