Not that he’s probably bothered but legendary investment guru Warren Buffett is back in the top five of the world’s richest people.
According to the Bloomberg Billionaires Index, Buffet’s worth has grown by 7.2% this year to US$116.7bn this year on the back of the increase in value of Berkshire Hathaway (NYSE:BRK) Inc, Buffett’s investment vehicle.
Shed a tear, however, for Tesla Inc (NASDAQ:TSLA)’s boss and founder Elon Musk and Amazon.com Inc (NASDAQ:AMZN) boss and founder Jeff Bezos, both of whom have seen their net worth fall by more than 15% as investors switched out of tech stocks.
One of Buffett’s most famous aphorisms is “only when the tide goes out do you discover who's been swimming naked”. This applies in spades to the many members of the political and financial establishment who took money and favours from Russian oligarchs and kleptocrats…
— Robert Peston (@Peston) March 5, 2022
Bloomberg noted that it is the first time in a year that Buffet has ranked this high in the Billionaires Index; back in October, he even fell outside of the top 10, languishing as low as 11th.
Warren Buffett's Berkshire Hathaway (NYSE:BRK) Inc has revealed it bought more than $5 billion stake in Occidental Petroleum Corp, as oil prices soared.
It bought $4.5 billion worth of the shares within 5 days last week.
— Moe (@moneyacademyKE) March 8, 2022