Warren Buffett overtook Jeff Bezos on the rich list in 2022, and now threatens to displace Bill Gates as the second richest American following Elon Musk.
The famous investor is worth, Owner of Berkshire Hathaway, With an estimated $108 billion as of Thursday, according to the Bloomberg Index, he is succeeded by Jeff Bezos, founder and chairman of Amazon, with a fortune of $107 billion.
Gates, co-founder of Microsoft and one of Buffett’s closest friends, has a net worth of $110 billion, which puts him within striking distance. Even Musk, the CEO of Tesla and Twitter, isn’t far ahead with a fortune of $138 billion.
Buffett trailed Musk by more than $170 billion, Bezos by more than $90 billion, and Gates by more than $30 billion at the start of 2022. He overtook Bezos and closed the gap due to the relative outperformance of Berkshire Hathaway stock, which accounts for regarding 99%, of his net worth. .
Microsoft shares fell by regarding 30%, Amazon shares fell in half in 2022, while Tesla fell by regarding 65%. On the other hand, Berkshire’s share price rose by regarding 2%, which means that Buffett’s wealth would have increased if he had not donated regarding $5 billion of his Berkshire shares this year, according to a report published by “business insider” and viewed by Al Arabiya.net.
In fact, it should be noted that since 2006, Buffett has given away approximately 52% of his Berkshire shares. And if he kept his entire stake of roughly 475,000 shares, it would be worth $223 billion today, making him the richest person in the world in the long run.
Even with his declining fortune, Buffett ranks fifth on Bloomberg’s rich list. French luxury business magnate Bernard Arnault ranks first with a net worth of $165 billion, and Indian industrialist Gautam Adani ranks third with $121 billion.
Investors have shifted from growth stocks like Microsoft, Tesla and Amazon this year to defensive companies like Berkshire in the face of historic inflation, high interest rates and a potential recession.
