Warren Buffett Drops Out of Top 10 Billionaires as Rob Walton's Wealth Surges

In a notable shift among the world’s wealthiest individuals, Warren Buffett has exited the top 10 billionaires list, overtaken by Rob Walton, the eldest son of Walmart's founder, according to the Bloomberg Wealth Index.

Walton's wealth rose by approximately $3.4 billion, bringing his total to $149 billion, which matches Buffett's wealth increase of $1.87 billion to the same amount.

Despite this parity, the wealth index has placed Buffett outside the top ten, marking a significant moment for the elite group of billionaires.

In leadership changes, Buffett transferred control of Berkshire Hathaway to Greg Abel in January, concluding over 60 years of his management. However, Buffett continues to oversee daily operations while delegating major investment decisions to Abel.

Berkshire Hathaway is recognized for its substantial cash reserves, following a series of strategic exits from major investments, including Apple. The company has opted to invest its cash in U.S. Treasury bills and bonds, which has led to speculation regarding a possible market downturn early last year.