Buffett Becomes Sixth Member of $100 Billion Club

Buffett Becomes Sixth Member of $100 Billion Club

Legendary investor Warren Buffett’s net worth has “blown past $100 billion,” according to a recent article in Advisor Perspectives (data from Bloomberg Billionaires Index), making him the sixth member of the $100 billion club—a group that includes Jeff Bezos, Elon Musk and Bill Gates.

Berkshire Hathaway, “the source of virtually all of Buffett’s wealth, has had a fast start to 2021,” the article reports, adding that the firm’s A shares are up 15% so far this year, outpacing the S&P 500’s 3.8% gain. “That’s been helped by Buffett’s recent push to spend record amounts buying back Berkshire’s own stock, a notable shift for an investor who has preferred to use the $138 billion cash pile to buy other businesses or common shares.”

The article points out that Buffett’s accomplishment is even more notable in light of how much he has given away: “A co-founder of the Giving Pledge, a campaign to encourage philanthropy, Buffett has donated more than $37 billion in Berkshire stock since 2006.” Without those donations, the article states, his net worth would exceed $192 billion today.