Warren Buffett emerged as a rare winner in the global market turmoil triggered by US President Donald Trump's sweeping tariffs on 184 countries, which wiped out $5 trillion in value. 

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According to the Bloomberg Billionaires Index, Buffett was the only one among the world's 10 richest individuals to witness his wealth double while others, including Elon Musk, Jeff Bezos, and Mark Zuckerberg, suffered significant losses. 

Following Trump's surprise tariff announcement on Wednesday, the US markets plummeted to their lowest levels since March 2020.

This drastic downturn marked the fourth-worst single-day wealth wipeout in the Bloomberg Billionaires Index's 13-year history. The top 500 richest individuals collectively lost $536 billion, but Buffett, who heads Berkshire Hathaway, not only dodged this bullet but also profited from the situation.

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He gained $12.7 billion, which skyrocketed his net worth to $155 billion, tying him with Bill Gates. 

Warren Buffett's plan

In the year 2024, Buffett sold $134 billion worth of stocks and amassed a record $334 billion cash reserve, primarily invested in short-term US Treasury bills. 

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This paid off when the market crashed, as Berkshire Hathaway was shielded from significant losses. 

One of his significant moves was Berkshire's Apple stake by two-thirds just before the stock plummeted 28 per cent. 

Earlier in February shareholder letter, Buffett hinted towards what was coming: "We were aided by a predictable large gain in investment income," he wrote, according to Fortune.

Trump says 'sometimes you have to take medicine to fix something' as markets tumble 

US President Donald Trump, on Sunday (Apr 6), said that the massive dips in American as well as global markets showcased that the "medicine" of his trade tariff strategy was working.

"Sometimes you have to take medicine to fix something," Trump told reporters aboard Air Force One as he returned to Washington from a weekend of golfing in Florida, adding that trade partners are "coming to the table" and "want to talk."

Further condemning the previous Joe Biden-led administration, Trump reiterated that the trading partners have over the years treated the US "badly".

"We have been treated so badly by other countries because we had stupid leadership that allowed this to happen," he said, according to news agency Reuters.

(With inputs from agencies)