Two billionaires add more to their net worth than Warren Buffett in a year of market crash

The stock market corrections since last year have reduced the net worth of many billionaires. But a few are exceptions.

According to the Bloomberg Billionaires Index data on Monday, Buffett's net worth has increased by ₹12.7 billion YTD. He is now the sixth richest person listed on the index with a total net worth of ₹150 billion.

Billionaires ranked higher than Buffett on the index are Elon Musk ($302 billion), Jeff Bezos ($193 billion), Mark Zuckerberg ($179 billion), Bernard Arnault ($158 billion), and Bill Gates ($155 billion).

In a year, Musk’s net worth has declined by $130 billion and Bezos' by $45.2 billion. Gates' net worth has declined only by $3.38 billion, while Zuckerberg and Arnault have seen their net worth decrease by $28.1 billion and $18.6 billion, respectively.

The total net worth of both Buffet and Gates is the same at $155 billion as of April 7.

However, two billionaires on the index have added more wealth to their net worth than Buffett YTD. Although their individual net worth is a lot less than Buffett's.

These two billionaires are Jeff Yass and Zhang Yiming.

Both Jeff and Zhang have added $12.8 billion and $13.6 billion to their net worth YTD, respectively. The total net worth of Yass is $58.6 billion, and that of Zhang is $57.5 billion.

Who is Jeff Yass?

Jeff Yass is the co-founder of Susquehanna International Group, which is one of the largest and most successful trading firms in the US. Jeff also has a minority stake in ByteDance.

Jeff's company makes and markets financial products with a strong focus on derivatives. It is known for recruiting and training traders using poker tournaments to sharpen decision-making skills. The company's traders have won 3 World Series of Poker bracelets, according to Forbes.

Who is Zhang Yiming?

Zhang Yiming is the co-founder of ByteDance, the social media group behind TikTok, a video-sharing app. ByteDance is based in Beijing, China. The company also owns Toutiao, a news aggregation service.

According to Bloomberg, ByteDance currently has over $110 billion users across the world. The company had reported a revenue of more than $110 billion in 2023.

Zhang stepped down as chief executive in March 2021.