Warren Buffett becomes world's 10th richest man after surpassing billionaire Zara founder
Legendary investor Warren Buffett, with a US$142 billion net worth, has overtaken Spanish billionaire Amancio Ortega, who founded Zara fashion chain's parent company Inditex, to become the tenth-richest individual globally.
Warren Buffett has ascended to the world's 10th wealthiest individual, overtaking the founder of Spanish fashion giant Inditex, Amancio Ortega. This achievement occurred after Buffett's net worth surged by nearly $500 million, reported U.S. magazine Forbes. Meanwhile, Ortega's wealth plummeted by $1.8 billion to $140.1 billion, following a 1.6% drop in Inditex's stock.
Buffett's substantial fortune stems from his ownership of approximately 37.2% of Berkshire Hathaway's Class A shares and less than 0.001% of its Class B shares. The conglomerate, which includes major stakes in Apple, American Express, Coca-Cola, Google, and Bank of America, boasts a market capitalization exceeding $1 trillion. Despite a slight decline in its Class A stock price this year, its value has increased by over 80% over the past five years.
In July 2026, Buffett relinquished his position as Berkshire Hathaway's chairman after decades of leadership, with his son Howard assuming the role of non-executive chairman. Buffett, however, remains a director and chairman emeritus. He has pledged to donate more than 99% of his wealth upon his demise, having already contributed over $72 billion, primarily in Berkshire Hathaway shares.
Bloomberg estimated that the shares Buffett has given away over two decades would have been worth around $230 billion by May 2026. If he had retained those shares, his fortune could have reached $400 billion, surpassing Elon Musk's wealth at that time. Musk's net worth has since surpassed $900 billion, securing his position as the world's richest individual.
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