Renowned investor Warren Buffett has seen his net worth increase by $11.5 billion this year to reach $153.5 billion in a period of market turmoil that has led to significant losses for other billionaires, according to the Bloomberg Billionaires Index.
Buffett’s gains have made him the fourth richest person in the world.
His wealth peaked at a five-year high on April 2, but has since declined by $14.5 billion.
Buffett's investment firm Berkshire Hathaway Inc (NYSE:BRK.A) has benefited from strategic moves such as holding over $300 billion in cash reserves and investing in Japanese trading houses.
Buffett's success contrasts sharply with the losses suffered by other billionaires this year, including Tesla CEO Elon Musk, whose wealth dropped by $135 billion.
Over the same period, Amazon founder Jeff Bezos has lost $42.8 billion, Meta CEO Mark Zuckerberg has lost $24.5 billion, Oracle co-founder Larry Ellison has taken a $44.9 billion hit while Microsoft co-founder Bill Gates has seen his net worth decrease by $9.5 billion.
Francoise Bettencourt Meyers, granddaughter of L'Oréal founder Eugène Schueller, has also seen her fortune increase this year, adding $1.8 billion.