The sell-off in stocks this month has wiped out the fortunes of 10 of the world's richest people. This year, Warren Buffet's wealth has grown.
The net worth of the famed investor and the CEO of the company has increased by over $1 billion this month, reflecting a 1% rise in his company's stock this month. Half of his shares have been donated since 2006 but he still owns more than 100,000 of them.
The rich-listers are having a hard time in January. The decline in the electric-vehicle stock this month has resulted in a $30 billion decrease in the fortune of Musk. The net worth of Jeff Bezos, the founder of Amazon, has fallen by $23 billion this year due to a 15% slump in the company&s stock price.
Bill Gates, Steve Ballmer, Larry Page, Sergey Brin, Mark Zuckerberg, and Larry Ellison are all in the red as their stock holdings have declined this month.
The fortunes of the nine centibillionaires have shrunk by an average of $15 billion this year. They are worth a combined $1.2 trillion on paper.
An ongoing shift in risk appetite has helped Warren Buffet weather the stock-market downturn better than his peers. The prospect of inflation and the Federal Reserve hiking interest rates this year has spurred investors to pull their money out of highly valued growth stocks and put it into stable, cheaper equities such as Berkshire.
The Burlington Northern railway is one of the businesses that is owned by Berkshire. American Express, Bank of America, and Coca-Cola are some of the companies that the company holds billions of dollars in stakes in. Many investors view the stock of the company as a safe place to park their money.
If the market crashes this year, Warren Buffet is ready to invest $80 billion. The experts say the investor should trim his Apple stake, buy a luxury brand, or buy some blue-chip stocks.
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