Warren Buffett can sleep soundly again. Accustomed to the top of the ranking of the richest personalities in the world, the boss of Berkshire Hathaway had lost some stripes in the face of the emergence of new fortunes linked to tech, and his bets on the stock market had proved less juicy.
At 90, his net worth has just passed the $ 100 billion mark for the first time, according to the Bloomberg Billionaire Index. Only five other people in the world are richer than him, and he ends up right in front of Facebook CEO Mark Zuckerberg.
“The Oracle of Omaha” has garnered nearly $ 13 billion this year as the shares of its industrial and insurance conglomerate have risen in value. Berkshire Hathaway stock is up nearly 15% year-to-date, giving the company a market cap of over $ 600 billion.
More than 60 companies
Warren Buffett and Berkshire Hathaway made their reputations with investments primarily in cheap, slow-growing stocks. A profitable strategy at a time when the markets continue to wipe the plasters caused by the coronavirus pandemic. He recently revealed that Berkshire had purchased stakes in Chevron and Verizon, showing renewed interest in “Big Oil”, telecommunications and media.
Chevron stock is up 31% year-to-date as crude prices regain ground lost in the early months of the pandemic. This is not yet the case for Verizon: the stock is down nearly 3% this year – but it is still above the lows reached in March 2020. According to “Forbes”, the conglomerate Berkshire Hathaway owns more than 60 companies, including US insurer Geico and battery maker Duracell.
A generous donor
While Warren Buffett has crossed the $ 100 billion mark, he is still far behind the richest person in the world, Jeff Bezos, who is worth $ 180 billion, according to Bloomberg. The Amazon boss is neck and neck with Elon Musk, CEO of Tesla, which is now worth $ 173 billion. Bill Gates, co-founder of Microsoft, is third on the list with $ 138 billion, while Bernard Arnault, president of luxury goods group LVMH (owner of “Echoes”), is fourth with $ 122 billion.
Warren Buffett is a generous donor since so far, according to “Forbes”, he would have donated more than 41 billion dollars, mainly to the Gates Foundation and to the foundations of his children. In 2010, he and Bill Gates launched the Giving Pledge, asking billionaires to pledge to give at least half of their wealth to charity. Without the donations, which nearly halved his holdings of Class A Berkshire shares, his fortune would be worth more than $ 192 billion today.