BY EMEKA EJERE
Famous US businessman Warren Buffett on Wednesday joined the small circle of executives worth more than $100 billion, Forbes magazine has reported.
The multi-billionaire circles also includes Jeff Bezos, Elon Musk, Bernard Arnault and Bill Gates, Forbes magazine reported.
The share price of his company, Berkshire Hathaway, reached a record level Wednesday, pushing his fortune to $100.3 billion — the first time that his net worth has crossed the $100 billion threshold.
Buffett, 90, known as the “Oracle of Omaha,” is one of the most successful and respected executives of all time, but his fortune has never before reached such a peak, with investors in recent years betting on the values of the technology sector.
According to Forbes, the Berkshire Hathaway conglomerate owns more than 60 companies, including US insurance agency Geico and battery maker Duracell.
Buffett is a generous donor, having given more than $41 billion, mainly to the Gates Foundation and his children’s foundations, Forbes said.
In 2010, Buffett and Gates launched the “Giving Pledge,” which called on billionaires to commit to giving at least half of their wealth to charitable organizations.
According to Forbes’ real-time billionaire ranking, only four other executives have a higher net worth than Buffett: Amazon founder Bezos ($179.6 billion), Tesla CEO Musk ($165.1 billion), LVMH group director Arnault ($158.5 billion) and Microsoft cofounder Gates ($125.6 billion).
Facebook founder Mark Zuckerberg is in sixth place, with an estimated fortune of $96.7 billion.