Tags: Warren Buffett | Forbes | billionaires | Berkshire Hathaway

Buffett Climbs to Third on Forbes' Billionaire Rankings

By    |   Wednesday, 12 March 2014 01:26 PM

Warren Buffett, CEO of Berkshire Hathaway, has taken over third place on Forbes' ranking of billionaires from Spaniard Amancio Ortega, founding chairman of fashion conglomerate Inditex.

Buffett has benefited from the rising shares of Berkshire, while Ortega has suffered from the slumping shares of Inditex, which includes the global retailer Zara, Forbes reports.

At the close of trading Tuesday, Buffett was worth $63.7 billion, according to Forbes, up 9.5 percent since it released its global billionaires list March 3. At the same time, Ortega dipped 3.1 percent to $62 billion.

Editor’s Note: 18.79% Annual Returns . . . for Life?

Berkshire Hathaway shares soared 6.9 percent since March 3. Earlier this month, the company reported that its net income jumped 31.8 percent to $19.5 billion last year.

Inditex has seen its shares drop 5.5 percent in the last month. Analysts at Goldman Sachs, Citigroup and other brokerage firms have downgraded the stock amid turmoil in emerging markets.

Microsoft co-founder Bill Gates occupies first place on the Forbes list with a net worth of $76.6 billion. He is followed by Mexican business mogul Carlos Slim Helu with $67.7 billion.

The Bloomberg billionaires list
has Gates at No. 1 with $78.4 billion, Slim Helu second with $64.1 billion, Buffett third with $63.9 billion and Ortega fourth with $61.6 billion.

Charles and David Koch of Koch Industries are tied for fifth with $50.5 billion, and Ingvar Kamprad, founder of Ikea, is in seventh place with $48 billion.

Editor’s Note: 18.79% Annual Returns . . . for Life?

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Warren Buffett, CEO of Berkshire Hathaway, has taken over third place on Forbes' ranking of billionaires from Spaniard Amancio Ortega, founding chairman of fashion conglomerate Inditex.
Warren Buffett,Forbes,billionaires,Berkshire Hathaway
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2014-26-12
Wednesday, 12 March 2014 01:26 PM
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