Berkshire Hathaway: Ivan Glasenberg, the head of Glencore, saw the value of his holdings drop $237m over the week as shares in the commodities giant hit a record low on Friday in London, according to The Independent. The collective net worth of the 400 billionaires tracked by Bloomberg is still $3.98 trillion, however. The biggest loser in dollar terms was Warren Buffett, the world third-wealthiest person, who saw $3.6bn wiped off his fortune last week according to the Bloomberg Billionaires’ index, as shares in his Berkshire Hathaway fell more than 5 per cent. Analysts cautioned that the week dramatic falls need to be put into context, especially for value investors such as Mr Buffett who is famous for holding stock in companies for the long term. A week like this feels really bad, but when you take a step back, in a big picture view it not a disaster by any means. For them that a fractional percentage, even though $182bn is a big number, said John Collins at the wealth manager Aspiriant.
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