Warren Buffett Falls Out of Top 10 Billionaires as Rob Walton Surges
In a notable shift among the world's wealthiest individuals, renowned billionaire Warren Buffett has dropped out of the top 10 richest list, as his fortune has been surpassed by Rob Walton, the eldest son of Walmart's founder, according to the Bloomberg Wealth Index.
Walton's wealth increased by approximately $3.4 billion, bringing his total to $149 billion, which matches Buffett's own fortune, which rose by $1.87 billion to the same figure.
Despite this tie, the wealth index has positioned Buffett outside the top ten, marking a symbolic loss for the exclusive billionaire club.
On the leadership front, Buffett handed over the reins of his massive company, Berkshire Hathaway, to Greg Abel in January, after more than six decades of executive leadership.
However, Buffett continues to engage in his daily business oversight 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 divestments from significant investments, including Apple. The company has directed its cash into U.S. Treasury bonds and bills, prompting speculation about a potential market downturn anticipated since early last year.
