00:00It's Benzinga bringing Wall Street to Main Street
00:02Warren Buffett's net worth has fallen by $8.3 billion this year to $143 billion, dropping
00:09him to 10th on Bloomberg's ranking of the world's richest people, according to Bloomberg
00:13data.
00:13The decline comes as Berkshire Hathaway's shares remain little changed for the year after
00:18falling more than 6% from their August peak.
00:20Buffett's wealth has also been reduced by philanthropy, including a $6 billion stock
00:25donation announced in July.
00:27Berkshire is undergoing a leadership transition after Buffett stepped down as CEO and chairman.
00:33Greg Abel has since deployed more of the company's cash, including $4.5 billion in share repurchases
00:38and $20 billion in stock purchases.
00:41Berkshire reported a 16% increase in profit as strength in its energy, railroad, and manufacturing
00:46businesses offset weakness in insurance.
00:48For all things money, visit Benzinga.com.
