As US Tech Stocks Falter, Buffett Surpasses Zuckerberg in Wealth Rankings

Warren Buffett, Chairman of Berkshire Hathaway
[Photo by AP Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] As U.S. tech stocks have weakened this year, Warren Buffett, chairman of Berkshire Hathaway, has surpassed Mark Zuckerberg, CEO of Meta, in the billionaire rankings.

According to Bloomberg News on the 27th (local time), Buffett's assets were valued at $111 billion as of that day, placing him 6th on the Bloomberg Billionaires Index, surpassing Zuckerberg's assets of $110 billion, which dropped to 8th place.

Bloomberg explained, "Currently, Buffett holds the highest ranking on the billionaire index since March last year," adding, "He is the only individual within the top 10 whose assets have increased so far this year."

The number one on the index is Elon Musk, CEO of Tesla, whose assets were valued at $216 billion. This is a decrease of $54.1 billion compared to the beginning of the year. Jeff Bezos, founder of Amazon and ranked second, also saw his assets decrease by $27.8 billion to $164 billion.

With U.S. tech stocks showing weakness this year, the assets of global billionaires, most of whose wealth is tied to tech stocks, appear to be declining.

Bloomberg reported that due to the Federal Reserve's tightening policies and inflation issues, the assets of the world's top 500 billionaires have decreased by $635 billion compared to the start of the year.