Warren Buffett would be richer than Elon Musk if he hadn't donated stock worth $111 billion today
- Warren Buffett's net worth is $113 billion, or about half of Elon Musk's $220 billion fortune.
- If Buffett hadn't donated stock worth $111 billion, he would be richer than Musk today.
- Buffett's wealth has grown by $4 billion this year, while Musk has lost $50 billion in net worth.
Warren Buffett would have seized Elon Musk's crown as the world's richest person this month, if the famed investor hadn't given half of his fortune to charity.
The Berkshire Hathaway CEO has a net worth of $113 billion, or just over half of Tesla and SpaceX CEO Elon Musk's $220 billion fortune, according to the Bloomberg Billionaires Index. If Buffett hadn't donated shares worth $111 billion over the past 16 years, he would be wealthier than Musk today.
Buffett owned nearly 475,000 Berkshire "A" shares in 2006, when he pledged to give 99% of his fortune to good causes. He has almost halved his holdings to about 239,000 shares since then, slashing the value of his Berkshire stake to $112 billion.
The investor's net worth has jumped by over $4 billion this year, as mounting fears of inflation and interest-rate hikes have fueled a 3% rise in Berkshire shares. In contrast, Musk's fortune has plunged by $50 billion this month, reflecting a painful sell-off of technology stocks that cut Tesla's share price by 29%.
Forbes estimates that Musk has given less than 1% of his wealth to charity, so his philanthropy hasn't materially eroded his net worth. However, Buffett's giving may have boosted Berkshire's stock price, meaning the investor's fortune might be smaller today without his largesse in recent years.
The Berkshire chief is the only one of the world's 10 wealthiest people whose net worth has grown this year. His centibillionaire peers have seen nearly $150 billion wiped off their combined fortunes in a matter of weeks.
Buffett's philanthropy has put a big dent in his wealth, costing him the title of the world's richest man. Yet his decades of careful investing continue to pay off, as investors are once again flocking to Berkshire for safety, and his collection of stocks and businesses are generating plenty of money for him to give away.