+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

Warren Buffett has lost more money in the past year than anyone else on Forbes' list of the 400 richest Americans

Sep 9, 2020, 21:32 IST
Business Insider
Warren Buffett.REUTERS/Rick Wilking/File Photo
  • Warren Buffett's personal fortune has declined $7.3 billion in the past year, Forbes said Tuesday — more in dollar terms than anyone else on the Forbes 400 list of richest Americans.
  • Buffett's conglomerate, Berkshire Hathaway, was down 5% in 2020 when the Forbes 400 was calculated on July 24. Shares have since recovered.
  • The oil magnate Harold Hamm did lose more than Buffett in percentage terms as fuel prices cratered. His fortune fell by 42%, or $3.7 billion, to $5.1 billion. Other notable losses include that of the Las Vegas Sands' Sheldon Adelson.
  • President Donald Trump's net worth also took a coronavirus hit thanks to the declining value of New York real estate, knocking him 77 places down the list.
  • Overall, America's 400 wealthiest people are richer than they were before the pandemic. The Forbes 400 added $240 billion to their collective net worth in the past year, raising the total to a record $3.2 trillion.
  • Despite his wealth drop — some of which Forbes noted was caused by charitable donations — Buffett still ranked as the fourth-wealthiest person in America on Forbes' list, with an estimated net worth of $73.5 billion.
Advertisement
You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article