As global stock markets plunged, erasing a staggering $5 trillion in value following US President Donald Trump’s sweeping tariffs on 184 countries, one man stood out: Warren Buffett.
Unlike fellow billionaires Elon Musk, Jeff Bezos, and Mark Zuckerberg — all of whom saw significant losses — Buffett not only survived the market chaos but came out wealthier.
According to the Bloomberg Billionaires Index, the Berkshire Hathaway CEO was the only one among the world's 10 richest individuals to record gains amid the market carnage. Since the announcement of Trump’s tariffs on Wednesday, global markets have hit their lowest since March 2020, triggering the fourth-largest single-day wealth loss in the Index’s 13-year history. The top 500 richest people collectively lost $536 billion.
Buffett, however, added $12.7 billion to his fortune, boosting his net worth to $155 billion, placing him on par with Microsoft co-founder Bill Gates.
Buffett’s strategy: Cash over risk
So, how did Buffett escape the global wealth bloodbath?
In 2024, he made a bold move by offloading $134 billion worth of stocks, reallocating capital into a record $334 billion in cash, largely invested in short-term US Treasury bills. This conservative pivot proved crucial as markets fell apart.
One of his most strategic plays was slashing Berkshire’s Apple holdings by two-thirds before the tech giant’s shares dropped 28% due to its exposure to China — a key target in Trump’s tariff escalation. Buffett also scaled back investments in Bank of America and Citigroup, both of which are down over 20% this year.
In his February shareholder letter, Buffett hinted at his cautious stance, noting: “We were aided by a predictable large gain in investment income,” and pointed out that rising T-bill yields made them a safer bet than overvalued stocks.
Berkshire stocks rise amid economic turmoil
While fears of a global recession loom and markets remain volatile, Berkshire Hathaway shares have climbed 9% year-to-date. The company’s core businesses — railroads, energy, and insurance — have proven resilient during the economic storm.
Amid speculation, some reports claimed Buffett had endorsed Trump’s tariff policy. However, Berkshire Hathaway firmly denied these claims, telling Reuters that Buffett has not made any public statement on the issue. He is expected to share his views, if any, during Berkshire’s annual shareholder meeting on May 3.
