Warren Buffet's wealth increases amid a sea of red

Warren Buffett is one of the very few billionaires to see his wealth grow this year – even after a US$14.5 billion (HK$113.1 billion) drop since April 2, marking his steepest pullback in five years.

Buffett’s fortune has grown by US$11.5 billion this year, thus far reaching US$153.5 billion, according to the Bloomberg Billionaires Index.

Buffett is now the world’s fourth-richest person and one of only two among the top 20 people on the list to see their wealth grow this year. The other is L’Oreal heiress Francoise Bettencourt Meyers, who added US$1.8 billion to her fortune and ranks No 19 on Bloomberg’s ranking.

Shares of Buffett’s Berkshire Hathaway have fallen 8.8 percent since April 2, a better outcome compared to the 10.7 percent drop in the S&P 500.

In contrast, Tesla chief Elon Musk has seen his fortune shrink by US$134.7 billion this year, as the electric carmaker’s shares slumped amid US president Donald Trump’s tariff woes, among others.

Tesla’s stock has fallen 38 percent so far this year.

Musk was the sixth biggest loser on the list of the world’s 500 richest people, Bloomberg reported on Monday.

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