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Warren Buffett Watch
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AP Warren Buffett and Bill Gates in a 2003 file photo |
Forbes Magazine is out with an update to its Forbes 400 list of the richest people in the United States.
Thanks to a 17 percent gain for Berkshire Hathaway shares during September, Buffett's estimated wealth increased by $8 billion to $58 billion.
That puts him back above his good friend and bridge partner, Microsoft's Bill Gates, who lost about $1.5 billion last month, leaving him with an estimated fortune of $55.5 billion.
In the annual Forbes 400 ranking released in mid-September, Gates led Buffett by $57 billion to $50 billion.
That was itself a turnaround from last March, when Forbes released its annual list of the world's richest billionaires. That's when Buffett moved into the number one position: $62 billion vs Gates' $58 billion.
The most recent Forbes update, however, doesn't include October, which hasn't been good for either Berkshire or Microsoft (or anyone else, for that matter.)
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Berkshire is on a four-session losing streak, closing today (Thursday) at $114,000. It's down 17.7 percent over those four days and has lost 5.7 percent in October.
The stock is falling back toward its near-term low of $111,750 in late July.
Microsoft [MSFT
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Current Berkshire stock prices:
Class A: [US;BRK.A
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Class B: [US;BRK.B
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Data is a real-time snapshot *Data is delayed at least 15 minutes