Warren Edward Buffett ,the American investor, business tycoon cum philanthropist,and the chairman and CEO of Berkshire Hathaway’s fortune hit US dollar 100 billion on wednesday.He is the most successful investor in the world and is currently placed at the 5th position among the wealthiest in the world.
Buffett’s net worth was measured by Forbes magazine. His fortune is made up of earnings from the ownership of one-sixth of Berkshire which is estimated to be a USD 600 billion enterprise.Berkshire’s stock price soared to a higher level in March, with its Class A shares crossing USD 400,000 last day.Earlier Omaha, Nebraska-based company had said that the fourth-quarter operating results improved inspite of the coronavirus pandemic and increase in Apple Inc and other stocks gave rise to a USD35.8 billion profit.
Buffett is also known for lavish donations of Berkshire shares to the Bill & Melinda Gates Foundation and four family charities.His donations are known to be higher than $37 billion.He bagan donating for the foundation in 2006.He owned close to one-third of Berkshire before.
Berkshire , a textile company was under terrible losses and was close to a shutdown when Buffett took over the reins in 1965. It now holds ownership of more than 90 businesses like the Geico car insurer and BNSF railroad, and rounded last year with USD 281.2 billion stocks.
Considered one of the world’s most famous investors, Buffett was once the world’s richest person but has fallen behind over the years with new players overtaking him.Currently Buffett ranks fifth on the Forbe’s list of the world’s richest people, after Amazon.com’s Jeff Bezos, Tesla’s Elon Musk, LVMH Moet Hennessy’s Bernard Arnault and his family, and the philanthropist and Microsoft co-founder Bill Gates.