Billionaires Increase Investments in Amazon Stock

A recent report highlights the elite group of centibillionaires, including Elon Musk, Jeff Bezos, and Mark Zuckerberg, whose combined wealth exceeds $2.2 trillion, surpassing the market caps of major companies like Amazon and Alphabet. While most of these billionaires have seen their fortunes rise this year, Warren Buffett's Berkshire Hathaway made headlines by selling off approximately $80 billion in Apple stock, halving its stake, and investing in Ulta Beauty instead. This shift comes as several other billionaires, such as Ray Dalio and Ken Griffin, have increased their investments in Amazon, reflecting a growing confidence in the tech giant. Despite Apple's strong financial results, including significant revenue growth, the move by Buffett has sparked discussions about future investment strategies. The changing landscape indicates a potential shift in investor sentiment away from Apple, which has long been favored. Overall, these developments underscore the dynamic nature of investment preferences among the world's wealthiest individuals.