Warren Buffett is the only one of the world's top 500 billionaires to have increased his wealth since President Donald Trump's tariffs triggered a global stock market sell-off, according to the Bloomberg Billionaires Index. The 94-year-old 'Oracle of Omaha' saw his net worth rise by $12.7 billion since January 1, while 499 of the world's richest individuals suffered losses.
Elon Musk, who has publicly urged Trump to reverse the tariffs, has lost $130 billion this year. Amazon's Jeff Bezos and Meta's Mark Zuckerberg, both of whom attended Trump's inauguration, recorded losses of $45.2 billion and $28.1 billion respectively. The S&P 500 has fallen almost 20% from its February high amid fears of a US recession and rising inflation.
Buffett's gains stem from a strategic shift to cash. He sold shares in Bank of America, Apple, DaVita, and other holdings, boosting Berkshire Hathaway's cash reserves to a record $325 billion. He also liquidated exchange-traded funds from Vanguard and State Street. In a rare political comment, Buffett told CBS News last month that tariffs are 'an act of war, to some degree'.
Trump has shown little sign of backing down, insisting the tariffs will ultimately create manufacturing jobs. However, experts warn of devastating global economic consequences. Meanwhile, Berkshire Hathaway is reportedly in advanced talks to sell its real estate unit, HomeServices of America, and has increased investments in five Japanese trading houses.
