Warren Buffett returned to the list of the world's 5 richest people during a sharp drop in tech stocks that caused the fortunes of some Silicon Valley executives to decline.
Citing sources from the Bloomberg Billionaires Index, Buffet’s wealth value rose 7.2% in 2021 to $ 116.7 billion as shares of his company, Bershire Hathaway Inc soared 5% further successfully positioning itself among the world’s 5 richest people again.
Meanwhile, net worth for Elon Musk and Jeff Bezos is seen declining by more than 15%.
The latest ranking of the world's 5 richest people according to the Bloomberg Billionaires Index is as follows:
Elon Musk ($ 213 billion)
Jeff Bezos ($ 161 billion)
Bernard Arnault ($ 125 billion)
Bill Gates ($ 124 billion)
Warren Buffett ($ 115 billion)
It was the first time in a year Buffett had occupied the ranking, where in October last year he was ranked 11th.
In addition, Berkshire Hathaway is said to have made the purchase of nearly 30 million additional shares in Occidental Petroleum Corp., a Houston -based oil and gas company.
The deal is worth about $ 1.6 billion, further helping to lower the company’s cash pile to $ 146.7 billion.
Meanwhile, investors are seen trying to avoid technology stocks in recent weeks due to the declining performance displayed.
As a result, the Nasdaq Composite index fell 3.6% on March 7 to its lowest level in a year.
