Berkshire Hathaway Inc chairman Warren Buffett joined $100 billion net worth club briefly, before his net worth declined to a tad below $100 billion mark on Friday.
Buffett's net worth rose to $100.4 billion on Wednesday, as per the Bloomberg Billionaires Index. However, his wealth stood at $99.8 billion as on Friday.
Jeff Bezos ($183 billion), Elon Musk ($180 billion), Bill Gates ($139 billion), Bernard Arnault ($125 billion) and Mark Zuckerberg ($104 billion) currently have a net worth of over $100 billion, as per the index.
The 90-year-old Buffett has added $12.1 billion to his net worth in the current year so far. While Berkshire Hathaway's business was hit by pandemic, some of the businesses have started recovering. The firm's shares have gained about 14 per cent so far this year.
Based in Omaha, Nebraska, Berkshire Hathaway has more than 90 operating units including the BNSF railroad, Geico car insurer, Dairy Queen ice cream and See's candies.
Buffett had bough back a record $24.7 billion worth of stocks of Berkshire Hathaway in 2020. The buybacks have continued in 2021, with Berkshire Hathaway buying back over $4 billion of stocks.
In his annual letter to the company's investors in February, Buffett had said he and his successors would be careful stewards of investors' money at Berkshire Hathaway, where "the passage of time" and "an inner calm" would help serve them well.
He hailed the economy's capacity to endure "severe interruptions" and enjoy "breathtaking" progress. "Our unwavering conclusion: Never bet against America," he said.
Buffett has given away over $37 billion worth of his stocks in Berkshire Hathaway in charity since 2006.
Copyright©2022 Living Media India Limited. For reprint rights: Syndications Today