Warren Buffett joins the $100bn club as Berkshire Hathaway hits record profits
Warren Buffett discusses EU and Monetary Union in 2011
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The 90-year-old multi-billionaire, dubbed the “Oracle of Omaha”, now shares the exclusive 100 billion dollar club with Elon Musk, Bill Gates and Jeff Bezos. Mark Zuckerberg was also a member until recently slipping down the ranks, according to the Forbes real-time billionaires index.
Berkshire’s Class A stock reached a record high profit of $339,650 (£224,000) when shares closed on Wednesday.
The self-made billionaire is now ranked fourth amongst the top billionaires globally.
Buffett currently controls a 38 percent share in the conglomerate which owns major brands such as Geico and Duracell.
The company also owns minority holdings in several other companies such as Apple, American Express and Coca-Cola.
Buffett took control of Berkshire Hathaway in 1965 when it was a failing textile company.
Mr Buffett has been a billionaire for decades but his net worth has never reached the landmark number until now.
Buffett has been a regular supporter of charities over the years and has given away more than $37bn in Berkshire stock since 2006.
Most of his money has been invested in the Gates Foundation which works on hundreds of projects all over the world – such as increasing gender equality and global development.
He is also a co-founder of the Giving pledge which aims to encourage philanthropy and charitable giving.
Jeff Bezos’s ex-wife Mackenzie Scott is also a member of the pledge and gave away more than four billion dollars last year.
Buffet says one of the reasons he’s managed to make it this far is because he doesn’t invest borrowed money.
He added that for anyone interested in getting involved in the stock market, you don’t need much money to invest as stock trading apps nowadays allow for stocks to be bought for as little as £1.
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He continued to say that dividends are the key to long-term growth with his own company making millions each year from Coca-Cola dividends.
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