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Billionaire wealth is down big amid the market chaos, but Warren Buffett is still doing fine
Warren Buffett is doing just fine amid the stock market's tariff-induced chaos.
The 94-year-old billionaire investor is still up $12.7 billion in wealth as of Friday, according to data from Bloomberg, making him the fifth richest person in the world with a net worth of $155 billion.
The gain is impressive considering the vast wealth destruction seen since Trump's "Liberation Day" announcement of massive tariffs, especially among US tech billionaires.
US tech billionaires have lost more than $400 billion in wealth so far this year, with Tesla CEO Elon Musk leading the way with a $130 billion decline.
Shares of Berkshire Hathaway were up about 6% year-to-date, even when accounting for Monday's market sell-off. That compares to a 23% decline in the technology sector since the start of the year.
Another big win for Buffett and his Berkshire Hathaway is the company's enormous cash pile.
Berkshire Hathaway ended 2024 with a record $334 billion in cash and cash equivalents, giving the conglomerate plenty of breathing room if it decides to invest that money during the big stock market sell-off.
Read the original article on Business Insider