Warren Buffett Exits Top 10 Billionaires List as Rob Walton's Wealth Surges
In a notable shift among the world's wealthiest individuals, renowned billionaire Warren Buffett has fallen out of the top ten richest billionaires, as his wealth was surpassed by Rob Walton, the eldest son of Walmart's founder, according to the Bloomberg Wealth Index.
Walton's net worth increased by approximately $3.4 billion to reach $149 billion, matching Buffett's wealth, which also rose by $1.87 billion to the same figure.
Despite this parity, the wealth index has excluded Buffett from the top ten, marking a symbolic loss for this elite group of the affluent.
In terms of management, Buffett passed the reins of his vast company, Berkshire Hathaway, to Greg Abel in January, after more than six decades at the helm.
Nevertheless, Buffett continues to engage in his daily routines of overseeing the company's operations while delegating major investment decisions to Abel.
Berkshire Hathaway is recognized for holding one of the largest cash reserves in the business world, following a series of early exits from significant investments, including Apple.
The company has invested its cash in U.S. Treasury bills and bonds, raising speculation about a potential market downturn at the beginning of last year.
