Warren Buffett has once again overtaken Mark Zuckerberg in net worth in yet another example of his enduring power as a value investor, reports Bloomberg Wealth. The latest decline in tech stocks has resulted in $50 billion in wealth disappearing from some of Silicon Valley’s richest people, like Zuckerberg, whose wealth is down $15 billion in 2022, and Elon Musk—the world’s richest person—who is down $54 billion this year.

In contrast, Buffet’s net worth has shot up $2.4 billion in the first month of this year, hitting $111.3 billion and topping Zuckerberg by $1 billion, the article details. On the list of the world’s 10 wealthiest people, he’s the only one whose net worth has actually grown year-to-date. Berkshire Hathaway’s A shares, which total 98% of his wealth, have gained 2.3% since the start of the year.

Buffett’s current success is largely due to his long-time approach of value investing, as value stocks have greatly outperformed tech stocks as well as the S&P 500 Index since January 1. Value stocks, which make up some of Berkshire Hathaway’s portfolio, have declined only 4.2% this year, as opposed to a 9.2% dip in the S&P and 15% in tech stocks.

The 500 richest people in the world have lost a combined $645 billion in 2022 alone as the market responds to expected moves from the Fed and the highest inflation levels in 40 years, the article continues. Buffett’s continued presence in the upper echelons of billionaires is also notable given the fortune he’s donated to philanthropic causes over the years, including $33 billion worth of Berkshire stock to the Bill & Melinda Gates Foundation since 2006.