2020 in Review: The Year for Warren Buffett

Warren Buffett, aka the “Oracle of Omaha,” is known for being one of the greatest investors of all time. With a net worth of $85.3 billion, he’s currently the sixth-richest person in the world, according to the Bloomberg Billionaires Index.

Read: These 47 Billionaires Got Richer During the Pandemic

However, unlike his fellow billionaires Jeff Bezos, Elon Musk and Mark Zuckerberg, Buffett’s wealth has actually decreased in 2020. In fact, as of September, Buffett had lost more money in the past year than anyone else on Forbes’ list of the 400 richest Americans, Business Insider reported.

Take a look at some of Buffett’s noteworthy investing decisions and other milestones over the past year.

Despite being one of the richest people alive, Buffett is known for living frugally. He has famously eschewed smartphones for many years, using a Samsung flip phone instead. However, during an interview with CNBC in February, Buffett revealed that he had finally upgraded to an iPhone.

On May 2, Buffett’s conglomerate Berkshire Hathaway posted a record net loss of $49.75 billion due to the coronavirus pandemic’s effects on its common stock investments, Reuters reported.

Find Out: Just How Rich Are Oprah, Bill Gates and Other Big Names?

During a May shareholder meeting, Buffett said that Berkshire Hathaway had sold all its shares in Delta, Southwest, United and American because he believed it would take years for the air travel industry to recover from the coronavirus pandemic, CNN reported.

See: 4 Investing Lessons the Pandemic Has Taught Us

In July, Buffett announced that he would be distributing 15.9 million class B shares of Berkshire Hathaway valued at about $2.9 billion to several philanthropic organizations, CNBC reported. Among the charities he would be donating to are the Bill and Melinda Gates Foundation and a charity founded by his late wife, Susan Thompson Buffett.

Look Back: The Year in Your Money

Buffett held off on buying Apple stock until 2016, but shares of the tech stock now account for 40% of Berkshire Hathaway’s equity portfolio. By July, Berkshire Hathaway’s Apple shares had increased in value by $40 billion since bottoming out in March. According to CNBC, Berkshire’s investment in Apple stock played a crucial role in helping the conglomerate weather the pandemic as other areas of its business — such as insurance and energy — saw huge declines this year.

Take a Look: The Most Surprising Stock Market Trends of 2020

According to public filings, Buffett’s Berkshire Hathaway made new investments in large pharmaceutical companies that were working on developing a coronavirus vaccine: Merck & Co., Bristol Myers Squibb Co. and AbbVie Inc. The company invested between $1.8 billion and $1.9 billion in each, The Wall Street Journal reported.

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