Veteran value investor and Berkshire Hathaway Inc (NYSE: BRK-A)(NYSE: BRK-B) CEO Warren Buffett’s net worth on Thursday shot past that of Meta Platforms Inc (NASDAQ:FB) CEO Mark Zuckerberg’s, as per the latest data from Bloomberg Billionaires Index.
What Happened: With a net worth of $111 billion, Buffett ranked sixth among the world’s richest people and passed Zuckerberg who is currently ranked eight with a $110 billion valuation.
Buffett’s wealth is up $2.39 billion so far this year, making him the only name in the top 10 that has recorded a positive gain in 2022 so far.
Why It Matters: Barring Buffett’s diversified portfolio, the top ten constituents of the billionaires index is mostly tech-heavy. Technology and growth stocks have been down this year amid a rate and inflation related rout.
Buffett, referred to as the Oracle of Omaha, has been the chairman and largest shareholder of Berkshire Hathaway since 1970.
See Also: This Warren Buffett-Backed Chinese Automaker Sold More EVs Than Xpeng, Li Auto, Nio Combined In 2021
The 91-year old investor is known for introducing the value investing philosophy to the masses, advocating investing in companies that show robust earnings and long-term growth potential.
Buffett-led Berkshire counts Apple Inc (NASDAQ:AAPL), Bank of America Corp (NYSE:BAC), American Express Co (NYSE:AXP) and Coca-Cola Co (NYSE:KO) as the top four holdings.
Where Others Stand?: Tesla Inc (NASDAQ:TSLA) CEO Elon Musk is still the world’s richest person, though his wealth has shrunk by $54.1 billion year-to-date.
Amazon.com Inc (NASDAQ:AMZN) founder Jeff Bezos held on to the second spot at $164 billion valuation, despite a $27.8 billion year-to-date fall.
See Also: Warren Buffett Moves Up The Top 10 Billionaires List As Berkshire Hathaway Hits All-Time Highs
Tesla’s Musk had last year joked that Buffett should buy shares in Tesla if he wants to get richer.
Photo: Courtesy of Fortune Live Media via Flickr
Cathie Wood, a Tesla bull who runs Ark Investment Management, has placed large bets on the electric vehicle stock. The popular money managing firm’s flagship ETF, the Ark Innnovation ETF (NYSE:ARKK), through which it owns a large stake in Tesla, has lost over half of its value over the past year.
Price Action: Berkshire Hathaway shares closed 0.5% lower at $461,200 a share on Thursday. The stock is up 32.45% in the past one year.
