Warren Buffett is the only top-10 billionaire to become poorer this year after Berkshire Hathaway missed out on the stock market's rally
Warren Buffett is the only one of the world's 10 wealthiest people to see his fortune shrink this year, as hisBuffett's net worth has dropped by $529 million to $107 billion since the start of January, according to the. The decline reflects an almost 1% dip in Berkshire's stock price this year, compared with a 5% gain for the benchmark S&P 500 index and a 10% increase in the Nasdaq Composite.
Similarly, Amazon founder Jeff Bezos' net worth has jumped by $17 billion to $124 billion, and Microsoft cofounder Bill Gates rounds out the top five with a modest $2 billion gain to $111 billion. Amazon stock has jumped 17% this year, while Microsoft stock has inched up 1%. Buffett's rich-list peers have made money on paper this year thanks to a positive turn in market sentiment.
Investors flocked to Berkshire stock in 2022, sending its stock price up about 3% even as the S&P 500 slumped 19% and the Nasdaq tumbled by one-third.
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