Warren Buffett is again richer than Mark Zuckerberg as tech fortunes slide

Decline in tech stocks this week has wiped about $50 billion in wealth from Silicon Valley's richest people.

Warren Buffett is once again richer than Mark Zuckerberg, a reminder of the enduring power of his value-investing approach.

It’s also the result of this week’s precipitous decline in tech stocks, which has wiped about $50 billion in wealth from Silicon Valley’s richest people.

The net worth of Elon Musk, the world’s richest person, plummeted $25.8 billion on Thursday, the fourth-steepest one-day fall in the history of the Bloomberg Billionaires Index. He’s down $54 billion this year. Zuckerberg, co-founder of Meta Platforms Inc., has seen his fortune fall 12%, or $15 billion in 2022.

Buffett’s net worth has risen $2.4