Warren Buffett's net wealth has decreased by roughly $28 billion since he announced his retirement as CEO of Berkshire Hathaway. His fortune fell from $169 billion to $141 billion, dropping him from the fifth to the tenth position on the Bloomberg Billionaires Index. The decline in wealth is primarily due to a 13% drop in Berkshire Hathaway's stock price following his retirement announcement. Buffett's recent $6 billion donation further contributed to the decline in his net worth, despite the stock's modest increase earlier in the year.
Berkshire Hathaway's stock dropped 13% since Buffett's retirement announcement, contributing to a $28 billion decrease in his net wealth.
Warren Buffett's fortune fell from $169 billion to $141 billion, dropping him from fifth to tenth place on the Bloomberg Billionaires Index.
Despite Berkshire stock being up 3% this year, Buffett's wealth declined, influenced by both his $6 billion donation and the falling stock.
The drop in Berkshire's stock is attributed to investors' reactions to the loss of its CEO and disappointing second-quarter earnings.
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