Net Worth: $44 billion DOWN
Source: Berkshire Hathaway
Who will replace the Oracle of Omaha at the helm of Berkshire Hathaway? Buffett announced in February he’d finally made the decision, but he wouldn’t give a name. In December he chose his farmer son, Howard, as the future nonexecutive chairman and “guardian of the firm’s values.” New Senate legislation requiring the rich to pay at least a 30% tax rate has been dubbed the “Buffett Rule” in homage to the billionaire’s frequent public statements that the wealthiest should pay more than the average Joe. His net worth is down $6 billion year on year because of a 7% slump in Berkshire’s stock. In his latest annual letter he confessed to some mistakes, including being “dead wrong” about a housing comeback.
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