Warren Buffet Officially Enters $100 Billion Club

As of this moment, Warren Buffett has $100 billion. An opening sentence like that makes everyone else’s day’s events seem kind of lackluster in comparison. The 90-year-old investment guru has danced atop the wealthiest list for decades. Now, he’s claimed a spot in a very exclusive club.

Buffet, chairman for Berkshire Hathaway Inc., saw his wealth jump to $100.4 billion, according to the Bloomberg Billionaires Index on Wednesday. It places him among Jeff Bezos, Bill Gates, Elon Musk, and others North of the 100 Billion line.

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To give you an idea of how much money $100.4 billion truly is, the “four” just past the decimal point – the amount we leave out when rounding him to 100 – is equal to $400 Million. We leave that out. Let that sit for a bit.

Thanks to an injection of government stimulus, central-bank policies, and a surge in the equity market, those sitting atop the heap saw their assets grow. Coinciding with Warren’s assent Wednesday was President Joe Biden’s $1.9 trillion Covid-19 relief bill, as it cleared a House vote for approval. This vote tacked around $3 trillion to the stimulus fund Washington pumped out thus far in response to the global pandemic.

Berkshire shares are up 15% this year, easily out racing the 3.8% gain of the S&P 500 Index. Buffett and Berkshire Hathaway are known for primarily investing in slow growth “value” stocks. This particular category has done quite well over this past year as the markets continue to regain ground lost after being knocked down from coronavirus effects in 2020. Buffet also announced that Berkshire has purchased stakes in Chevron and Verizon, tipping his hat to a renewed interest in Big Oil, telecom, and media ventures.

In total, Berkshire, with Buffett at the helm, owns over 90 companies in full. Those business are far-reaching and include BNSF railroad, Geico insurance, and a number of large-scale utilities. In addition, they have ownership in companies across many sectors like manufacturing, furniture, shoe, jewelry, chocolate, and even underwear. Add to that, Berkshire has major investments in giant organizations like Apple, Coca-Cola, BoA, American Express, and a host of other names that most would be familiar with.

Despite his wealth, Warren Buffett is known for his charitable donations and giving away massive amounts of money to those he feels can use it. As co-founder of the Giving Pledge, an outreach program meant to encourage philanthropy, Buffett has donated over $37 billion in Berkshire stock over the past 15 years . It is a testament to giving back, helping others, and ultimately seeing rewards in the end.

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Sources: Bloomberg (via Yahoo Finance), CNN, Fox Business

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