Fifth Richest Man in The World, Warren Buffet Makes $16 Billion in a Day
- Top global stock investor, Warren Buffet has had his fortune increase by $16 billion as his company Berkshire Hathaway purchased HP stock
- Also, the 91-old stock trader bought an insurance firm, Alleghany Corporation for the sum of $11.6 billion
- Warren Buffet founded Berkshire Hathaway, a stock trading company and has gone on to amass a massive amount stocks through the firm
Billionaire businessman and top world stock trader, Warren Buffet has reclaimed his number five position as the richest man in the world.
In the latest Bloomberg Billionaires Index, the over 90-year-old stock buff sits pretty well on the global wealth index with a $125 billion fortune, trailing after Elon Musk, Jeff Bezos, Bernard Arnault and Bill Gates.
Source: Getty Images
In a single day, the stock investor boosted his net worth by more than $16 billion as his assets had a record appreciation.
Propelled by rising global stocks
His company, Berkshire Hathaway seems to have a solid footing this year. The stock of the company spiked by 15 per cent but fell 6 per cent on the S&P 500 this year.
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He has been sitting on a mountain stash of cash for decades.
As of Thursday, April 7, 2022, his firm, Berkshire Hathaway revealed its stock buy of about 121 million shares of HP worth $4.2 billion, giving it a stake of more than 11 per cent in the tech firm.
The latest move has driven the price of HP shares to 14 per cent increase.
The 91-year-old has made a series of large investments in the past month.
In March, his company boosted its shares in Occidental Petroleum and revealed an $11.6 billion deal to purchase an insurance company, Alleghany Corporation.
Elon Musk will be first person to achieve trillionaire status by 2024, report says
Legit.ng has reported that the world’s richest man, Elon Musk will become the first-ever living human to achieve the trillionaire status in two years’ time, a new study by Tipalti Approve says.
The report is based on the yearly analysis of average growth trends, Yahoo Finance story says.
The billionaire businessman and Tesla founder has a net worth of over $200 billion, the highest by any living human.
Source: Legit.ng
