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, Club of the Super Rich: Bloomberg Billionaires Index: Investment legend Buffett keeps falling back message, Forex-News, Forex-News
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Club of the Super Rich: Bloomberg Billionaires Index: Investment legend Buffett keeps falling back message

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, Club of the Super Rich: Bloomberg Billionaires Index: Investment legend Buffett keeps falling back message, Forex-News, Forex-News


, Club of the Super Rich: Bloomberg Billionaires Index: Investment legend Buffett keeps falling back message, Forex-News, Forex-News

Warren Buffett’s fortune is shrinking
Berkshire Hathaway shares under pressure
Buffett donates billions of dollars to charity

Warren Buffett has made a lot of money in his long career as a successful value investor. With its investment vehicle Berkshire Hathaway, the Omaha oracle is continually looking for undervalued stocks that stand out from their competition through a unique selling point that will keep them there for a long time and thus participate in their long-term development and the associated profit. This strategy made the Brsenstar one of the richest people in the world. Just a few weeks ago, Buffett was among the top 5 multimillionaires.

Warren Buffett has multiple spots in the Bloomberg Billionaires Index

Recently, however, the exchange expert had to give up a few places and, at around $ 72 billion, is only ranked 6th in the Bloomberg Billionaires Index (as of July 17, 2020). One reason for the significant decline was the weak performance of Berkshire Hathaway’s shares, which has come under the wheel since the beginning of the year: the share certificate’s loss was over 15 percent over the course of the year. Buffett himself was also increasingly in the focus of critical voices last year. The background is the massive cash reserves that Berkshire Hathaway has now accumulated and which many investors believe should be better invested in lucrative acquisitions by the investment company. Skeptics often said that the almost 90-year-old Buffett was too old and undecided to maintain the success of the past decades.

However, as to punish the critics, Berkshire Hathaway recently announced plans to acquire Dominion Energy’s natural gas business to participate in the natural gas boom. So it appears that the Omaha oracle has not yet given up its search for cheap takeover opportunities.

Promise to donate most of his fortune

Another reason why Buffett recently dropped back in the ranking of the richest people in the world is because of a promise that the stock market legend made many years ago. The star investor once swore to donate a large part of his fortune to charity until his death. A plan that Buffett collaborated with Microsoft founders Bill Gates renewed with the founding of the philanthropic campaign “The Giving Pledge”. The multimillionaire has already given away $ 37 billion of its wealth since 2006. Just a few days ago, various nonprofit organizations received a $ 2.9 billion donation of Berkshire Hathaway shares. As Buffett stated, the Bill Gates Foundation, the Bill and Melinda Gates Foundation, was one of the beneficiaries of the generous gift. This marked the 15th anniversary of his fundraising campaign.

With this in mind, Warren Buffett shouldn’t mind falling behind Amazon founder Jeff Bezos, luxury goods billionaire Bernard Arnault, and ex-Microsoft CEO Steve Ballmer on the list of super-rich. For a short time, even Tesla boss Elon Musk Buffett overtake after the share of the electric car maker cracked one record high after another. In the meantime, however, he has dropped back to 10th place. If the Omaha oracle lives up to its promise, it may move even further in the coming years.

Editorial office Forex-news.com.net

More news about Microsoft Corp.

Image sources: Paul Morigi / Getty Images for Fortune / Time Inc, Adam Jeffery / CNB / CNBCU / Photo Bank via Getty Images



, Club of the Super Rich: Bloomberg Billionaires Index: Investment legend Buffett keeps falling back message, Forex-News, Forex-News

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, Club of the Super Rich: Bloomberg Billionaires Index: Investment legend Buffett keeps falling back message, Forex-News, Forex-News

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