As per the Bloomberg Billionaires Index, the wealth of Berkshire Hathaway Inc. chairman Warren Buffett has crossed past $100 billion.
Key Points
- Legendary investor Warren Buffett has been a fixture at the top of the world’s wealth rankings for decades, but in recent years he’s slipped down the list.
- The wealth of Buffett jumped to $100.4 billion on March 10.
- After this, Buffett has become the sixth member of the $100 billion club that includes Jeff Bezos, Elon Musk, and Bill Gates.
- Berkshire has had a good start to 2021. The firm’s A-shares are up 15% this year, outpacing the 3.8% gain of the S&P 500 Index.
- This is a result of Buffett’s recent push to spend record amounts buying back Berkshire’s own stock, a notable shift for an investor who previously preferred to use the $138 billion cash pile to buy other businesses or common shares.
- Going past $100 billion is more notable considering how much Buffett has given away. A co-founder of the Giving Pledge, a campaign to encourage billionaire philanthropy, Buffett has donated over $37 billion in Berkshire stock since 2006.
- Without these donations, which have cut his holdings of Berkshire Class A shares nearly in half, he’d be worth more than $192 billion.
Buffett added $1.9 billion to his fortune on March 10 as Berkshire Class A shares hit a record high, helping lead the second day of gains for the S&P 500.
