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    How Warren Buffett’s wealth has risen in the last decade

    How Warren Buffett’s wealth has risen in the last decade

    How Warren Buffett’s wealth has risen in the last decade
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    By CNBCTV18.com  IST (Published)

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    At the outset of the financial crisis of 2008, Buffet was one of the richest people on the planet with a net worth of $62 billion.

    Warren Buffett is possibly one of the most successful investors of all time. Often called the ‘Oracle of Omaha’, the business magnate is worth $100 billion which makes him the seventh richest in the world. He is one of the few individuals who are rich enough to be called centi-billionaires, individuals with more than $100 billion. But despite his immense wealth, Buffet is known for his simple life and frugal choices.
    Buffett was born on August 30, 1930. He first became a billionaire in 1990 after his company Berkshire Hathaway started selling its now-legendary Class A shares, Buffett has seen his wealth 100x in 32 years. Surprisingly, a significant proportion of that increase happened in the past 10-12 years. At the outset of the financial crisis of 2008, Buffet was one of the richest people on the planet with a net worth of $62 billion. The only other close contender was Microsoft’s Bill Gates.
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    A large part of Buffett's wealth is through the power of compounding and the astounding longevity that Buffet has shown with his investments. Since the financial crisis of 2008, Buffett's wealth has increased almost every single year. His wealth saw a 20 percent drop going from 2015 to 2016 and a smaller dip of ‘just’ $2 billion when going from 2018 to 2019.
    Buffet did see a precipitous drop in net wealth in 2020, which could be attributed to the COVID-19 pandemic. After the economic slowdown, the stock market saw Buffett's wealth skyrocket to $118 billion earlier in the year, according to data from Forbes.
    Despite having given over $48 billion in charity, Buffett's wealth does not look to be slowing down anytime soon. With a diversified range of investments through Berkshire Hathaway, which currently sits on cash reserves of over $140 billion, Buffet shows how long-term investment can set up generational wealth in the future.
     
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