Benzinga | Jan 8, 2022 06:20PM EST

Warren Buffett Moves Up The Top 10 Billionaires List As Berkshire Hathaway Hits All-Time Highs

Last year saw Tesla Inc (NASDAQ:TSLA) CEO Elon Musk climb up the Bloomberg Billionaires Index with the rising valuations for Tesla and SpaceX. Early into 2022, only one name in the top 10 has a positive gain in valuation.

What Happened: Legendary investor and Berkshire Hathaway Inc (NYSE: BRK-A)(NYSE: BRK-B) CEO Warren Buffett ranks eighth on the billionaires list as of Friday.

With a net worth of $116 billion, Buffett passed Microsoft Corp (NASDAQ:MSFT) co-founder Steve Ballmer last week, who now ranks ninth at $112 billion.

Year-to-date, Buffett's wealth is up $6.9 billion. Buffett is the only name in the top 10 that has a positive gain in 2022.

In 2021, Musk moved significantly higher on the list and continues to rank first with a wealth of $263 billion, far outpacing second place Jeff Bezos, the founder of Amazon.com Inc (NASDAQ:AMZN), at $188 billion.

Related Link: Warren Buffett's Berkshire Hathaway Prints New All-Time Highs

Why It's Important: Shares of Berkshire Hathaway hit new all-time highs on Friday. The A shares traded as high as $480,887.99 before closing the week at $480,000.10.

Berkshire shares are up 7% in the last week and up 12% in the last month.

While Berkshire Hathaway trailed the performance of many high-growth technology stocks over the years, the stock has now trended back into favor.

Investors are transitioning towards value stocks over high growth names early in 2022. Berkshire Hathaway has long been considered one of the best value stocks around, holding ownership of many insurance and consumer brands.

Berkshire Hathaway also holds a significant stake in Apple Inc (NASDAQ:AAPL) shares, giving it exposure to the high growth technology sector as well.

Buffett topped the billionaires list previously, and may now climb his way back up the list if value stocks and Apple perform well in 2022. Next on the list within Buffett's reach is Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL) co-founder Sergey Brin, who ranks seventh with a wealth of $118 billion.

Photo: Courtesy of Fortune Live Media on Flickr