While other tycoons have lost billions of dollars in a very short time, Warren Buffett has won again, and his net worth has increased.
Among the 10 richest people in the world, the billionaire investor Buffet, is one of the two people among whom he has seen his net worth increase since January.
Buffett’s investment style remains stable: organized companies that consistently produce cash flows and aren’t valued above market multiples, The Tampa Herald reported.
The other billionaire in the top 10 increasing his wealth is Gautam Adani, an Indian infrastructure tycoon who owns real estate assets, commodities and energy firms, whose total net worth is $102 billion.
The Berkshire Hathaway CEO is ranked number five in the ranking of the world’s richest people. His total net worth is $112 billion.
Berskhire Hathaway, owned by Buffett, invested $7 billion in oil producer Occidental Petroleum Corporation, increasing its stake to more than 14%. The investment conglomerate also increased its stake in Chevron, which has risen to fourth position in the Berskhire holdings ranking. reported The Tampa Herald, a news and information agency.