Warren Buffett makes a fall in the Billionaire’s Index

Ace investor Warren Buffett, Chairman of Berkshire Hathaway reduces to 8th position, lowest since 2012.

Warren Buffett makes a fall in the Billionaire’s Index. Chairman of Berkshire Hathaway gave a $2.9 billion gift this week. He has donated his shares valued at more than $37 billion since 2006.

His philanthropy along with Berkshire’s underwhelming stock performance recently is finally starting to weigh on his net worth. He is an active supporter to the Bill & Melinda Gates Foundation and have donated billions for social causes. Buffett has also pledged billions which will be dispersed eventually.

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Warren Buffett and his $68.6 billion is currently ranked at eighth-place on the Bloomberg Billionaires Index. However, his lowest position since the index started in 2012. Falling from being ranked in the top 5 in June; in the past months, he has been surpassed by Steve Ballmer, the former Microsoft Corp. CEO, and this week by Google co-founders Larry Page and Sergey Brin.

However, the changes underline the extent. Which technology fortunes now dominate the upper echelons of the world’s richest people. But six of the top 10 richest people on the planet owe their wealth to the technology sector, including No. 1 Jeff Bezos, who has added $68 billion to his net worth this year, and Ballmer, who’s gained $18 billion.

Mukesh Ambani, Chairman and MD of Reliance Industries is currently ranked No. 9 on the Index.