It has had a full impact on the fortunes of the richest people in the world, with the exception of Warren Buffet. The billionaire investment guru has not only not lost money, but he has managed to increase his assets by about 2,400 million dollars, up to 111,000 million.
The Berkshire Hathaway CEO has a broadly diversified portfolio and is also firmly committed to investing in stocks that are trading for less than they should. On the contrary, the assets of their peers are largely tied to their technology companies. For that reason, Elon Musk, the CEO of Tesla and the world’s richest man, has lost $54 billion in falling technology stocks. And the same has happened to him; or the founder of Facebook, Mark Zuckerberg, who has lost 15.2 billion dollars so far this year.
One of Warren Buffet’s most common recommendations is to invest in index funds, such as the S&P 500, as they allow you to automatically diversify your portfolio by including all the stocks in an index. Likewise, he advises to continue buying “”through thick and thin, and especially in bad”, according to CNBC.This strategy has allowed him to surpass Zuckerberg and return to number 6 in the Bloomberg Billionaires Index.
However, even with the current fluctuations in the markets, Elon Musk remains the richest person in the world with a fortune of 216,000 million dollars, almost double that of Buffett. For his part, the latter does not plan to stay much longer in this ranking, since he has proposed to donate all his assets to philanthropy. So far, he has given away nearly $33 billion worth of Berkshire stock to the Bill & Melinda Gates Foundation.
The value of its Apple shares increases by 9.8 billion in one day
Apple this week reported results for the December quarter, with sales of nearly $124 billion and strong sales growth across all product lines except the iPad. The good results that were soon felt in the price of its shares, with a rise of almost 7%. In turn, this increase caused the value of the 887,136,000 shares owned by Berkshire Hathaway to increase by $9.8 billion.
Although Buffett initially considered technology companies too risky an investment for his company, in 2016 he launched himself to buy shares in Apple. Since then, he has become one of his main supporters and the tech giant accounts for more than 40% of his portfolio.
Back in 2020, Buffett said he thought of Apple as his third business, not a stock, calling it “the best business I know of in the world.” According to him, the iPhone ecosystem is “sticky,” which motivates customers to upgrade regularly and makes it a safer investment and more like a consumer company.
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