American Billionaire Warren Buffet returns to the list of the top five richest persons on the planet in the midst of significant drops in technology stocks that eroded the wealth of many Silicon Valley executives.
Following a slew of acquisitions, Berkshire Hathaway's stock is at all-time highs. Buffett made a smart gamble on Activision Blizzard last October, investing $1.1 billion in the video game company. Three months later, Microsoft purchased it for $69 billion.
Occidental Petroleum shares have been purchased for $7 billion by Warren Buffett's Berkshire Hathaway this year, despite rising oil prices, as reported by The National News.
He was also the driving force behind Berkshire Hathaway's $11.6 billion cash purchase of insurer Alleghany in March. It is the first time in a year that Mr. Buffett, 91, has ranked this high among the listing of the world's 500 richest people. He fell as low as 11th in October.
Warren Buffet, who resides in Omaha, Nebraska, has a Net Worth of 2022 is $125 billion, and his main source of wealth is Berkshire Hathaway, according to Celebrity Net Worth. But Forbes listed his net worth at $118 billion.
Buffett's wealth is derived from his 18% ownership stake in Berkshire Hathaway. Berkshire Hathaway's stock price climbed by an average of 20.8 percent between 1965 and 2016.
Buffett holds roughly 300,000 Class A and nearly 150,000 Class B shares in the company. He also has about 900,000 shares of U.S. Bancorp and more than two million shares of Wells Fargo and Seritage Growth Properties. Bancorp, as well as 9,000 additional IBM shares.
Although with all of those assets, his Berkshire Hathaway stock is estimated to be worth over 98 percent of his total net worth.
Modest Lifestyle
Buffet made his first million when he reached the age of 30. After five years, his net worth grew to $7 million (equivalent to $53.3 million today). And then it grew more than three times when he was 39 years old ($25 million). At age 47, Warren Buffet's net worth was listed at $67 million.
Buffet officially became a billionaire at age 56, with a net worth of $1.4 billion, and he became richer and richer. In 2016, at 72 years of age, Buffett's fortune is at $48 billion. According to 99% of Buffett's net worth was made after he turned 50 years old.
Warren Buffet is also known for his books, which are highly recommended for future CEOs as well as individuals who engage in business. Through his books, Buffet shares his knowledge to help people grow their wealth as he did.
"That's how knowledge works. It builds up, like compound interest." He said.
He also always gives back to the community. Every summer, he gives approximately 5% of his stock to charity.
Despite his massive wealth, Buffett still lives in the modest five-bedroom house he bought in Omaha, Nebraska, in 1956 for $31,500. Today, a house can be had in the same neighborhood for around $2 million.
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Where Does He Rank Among America's Richest People?
Buffet ranked number 4 in this year's America's 10 Richest Billionaires List by Forbes.
Tesla chief Elon Musk topped the list with a net worth of $219 billion. Followed by Amazon's Jeff Bezos ($177 billion); Microsoft co-founder Bill Gates at 3rd ($129 billion); Google's Larry Page ($111 billion ) and Sergy Brin ($107 billion) at 5th and 6th places, respectively; Larry Ellison, co-founder of Oracle, in 7th place ( $106 billion); At 8th is Steve Balmer of Microsoft ($91.4 billion); Bloomberg LP's Michael Bloomberg at 9th place and Mark Zuckerberg of Meta (formerly Facebook) ranked number 10.
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