With Berkshire Hathaway’s new stock market growth, Warren Buffett has become the sixth richest man in the world
Warren Buffett has consistently been among the world’s richest people over the past few decades, but has gradually lost ground as major tech companies have begun to reach unprecedented levels of market capitalization.
Now, at 90, the “Oracle” has a net worth of more than $ 100 billion, according to the Bloomberg Billionaires Index, becoming the sixth member of the “billionaire club,” which includes Jeff Bezos, Elon Musk and his friend Bill Gates.
Berkshire Hathaway, Buffett’s main source of wealth, reported a promising start in 2021. Shares have risen 15% since the beginning of the year, well above the S&P stock average of 3.8%
Thus, Buffet repurchased a large part of Berkshire’s shares. The move is unusual as the entrepreneur prefers to use the company’s $ 138 billion reserve to buy other shares or businesses.
From 2006 to date, Buffet has donated $ 37 billion worth of Berkshire shares. Had he not reached such a decision, which nearly halved his Class A shares, Buffett’s fortune would now be $ 192 billion.
In total, the wealth of the world’s 500 richest people grew by $ 1.8 trillion in 2020. The cumulative wealth of the top 10 businessmen in the Bloomberg ranking is $ 1.170 trillion, more than the gross domestic product (GDP) of Turkey, a country with a population of over 80 million.
The amount a person needs to get into the chlorine richest 1% of people in the US club is about $ 4.4 million, according to consulting firm Knight Frank.
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