The global stock market has plummeted due to Trump's tariff measures, wiping out trillions of dollars in market value. Legendary investor Warren Buffett is one of the few billionaires whose personal wealth has increased this year.
The world's richest person, Elon Musk, has seen his fortune shrink by as much as $134.7 billion (6027.74 billion MYR) this year, falling below $300 billion (1.34 trillion MYR) for the first time since November last year.
According to the Bloomberg Billionaires Index, Buffett's net worth has increased by $11.5 billion (514.62 billion MYR) this year, reaching $153.5 billion (6869.03 billion MYR). However, after reaching its highest level in five years, his net worth has decreased by $14.5 billion (648.87 billion MYR) since April 2.
At 94, Buffett is currently the fourth richest person globally and one of only two among the top 20 in Bloomberg's list whose wealth has grown this year. The other is L'Oréal heiress Françoise Bettencourt Meyers, whose wealth has increased by $1.8 billion (80.55 billion MYR), ranking 19th on Bloomberg's list.
In the two trading days following Trump's tariff announcement, the world's top 500 billionaires lost over $500 billion (2.23 trillion MYR). Musk remains the world's richest person, but on Monday, his fortune fell to $297.8 billion (1.33 trillion MYR), marking the first time since November last year that his net worth has dropped below $300 billion.
Since April 2, Berkshire Hathaway shares, under Buffett's control, have fallen 8.8%, while the S&P 500 index has declined 10.7% during the same period.
These diversified companies have performed relatively well, reflecting that the real estate and unexpected insurance sectors are relatively unaffected by global trade. Some investors speculate that Buffett might make large-scale acquisitions during the market downturn.
In recent quarters, Buffett has avoided major deals, significantly reduced his holdings in Apple Inc., and cut his stake in Bank of America. The stock prices of both companies have dropped in double digits since Trump's tariff announcement.