Aofex

World’s Fifth Richest Man Warren Buffett’s Net Worth Strikes $100 Billion

| Updated
by Bhushan Akolkar · 2 min read
World’s Fifth Richest Man Warren Buffett’s Net Worth Strikes $100 Billion
Photo: Shutterstock

Berkshire Hathway shares rallied on Wednesday amid strong Q4 2020 results and a positive outlook for the company. On Wednesday alone, Buffett added $1.9 billion to his personal wealth taking it past $100 billion.

On Wednesday, March 10, Warren Buffett‘s net worth ultimately surged past $100 billion ultimately making him the fifth-richest man currently as per Forbes magazine. This comes as investors pulled Berkshire Hathaway (NYSE: BRK.A) stock 2% up to record high levels. 

With Wednesday’s stock surge, Berkshire Hathaway’s valuations soared past $600 billion. Since Buffett owns one-sixth of the company, his personal wealth soared past $100 billion. The Nebraska-based company also said that its Q4 2020 results improved despite the fears of the COVID-19 pandemic. However, its strong bet in Apple Inc (NASDAQ: AAPL) and some other stocks has helped hit $35.8 billion in overall profit. Note that Berkshire Hathaway has a massive 5.4% stake in Apple as of now.

The important thing is that Buffet, popular known as the Oracle of Omaha, has been actively donating his wealth to the Bill and Melinda Gates Foundation over the last decade. So far, Buffett has donated over $37 billion to this Foundation.

Buffett could have easily hit a $100 billion market cap a few years back as he previously owned 1/3rd of Berkshire Hathaway. The 90-year-old Buffett took control of Berkshire back in 1965 when it was an ailing textile company. Now, the investment giant control over 90 businesses in total.

Road Ahead for Berkshire and Perspectives Buffett’s Net Worth

After facing strong volatility over the last year, Berkshire Hathaway has had a good start to 2021. the stock has outperformed so far in 2021 with some analysts even raising the price target. The BRK.A share price is 15% up on a year-to-date basis.

Thus, it has clearly outpaced the 3.8% growth for the S&P 500 index so far in 2021. Well, the company’s strong performance has pushed Warren Buffett to announce a buyback of shares from its $138 billion cash reserves. This is certainly a confidence-boosting measure for all Berkshire investors.

This has been a notable shift in Berkshire’s strategy which has largely been using its excess cash to buy other businesses. Last year, Buffett spent a record $24.7 billion in share buybacks. So far in 2021, the company has already spent $4.2 billion.

Along with Buffett, some of America’s top businesses added massive wealth over the last year. Elon Musk‘s wealth surged massively wherein he added more than $100 billion following Tesla‘s solid run-up. Musk is now the second-richest man after Amazon‘s Jeff Bezos.

Business News, Editor's Choice, Market News, News, Personal Finance
Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

Related Articles
PARSIQ Is Now an Amazon AWS Technology Partner, Can Help Thousands of Businesses Benefit from Blockchain Monitoring
By October 18th, 2021
Press Release PARSIQ Is Now an Amazon AWS Technology Partner, Can Help Thousands of Businesses Benefit from Blockchain Monitoring
By October 18th, 2021

PARSIQ is proud to announce it has acquired the status of Amazon AWS Technology Partner. The news marks a big step forward for the blockchain service provider. Through this status, mainstream adoption of blockchain comes one step closer, thanks to combining rich on-chain data and the off-chain world in real-time.