Gold has been proven to be an instrumentalinvestment choice for a number of reasons over the decades. Its value has been proven to remain unshaken though tough economic times and besides investing through IRA accounts like most investors do today is proving to have better returns thanks to the diversity of options. There have been a lot of billionaires that have taken major risks in investing in gold which has proven to have better returns over time, especially when considered to be long term investments. Discussed here are the top billionaires around the world that have seen it fit investing heavily in gold and gold-backed instruments.
According to warren Buffet, Gold has been proven to be better performing than most stocks in the market including his own Berkshire shares. Speculators presume his large gold investment to be a bet against US banking system as the company reduced its stake in Wells Fargi, JP morgan and Goldman Sachs. He currently has invested over $564 million into gold and gold instruments making him one of the successful innovators around today. His philanthropic side has promised the world donation of over 99% of his wealth to charity organizations around the world.
Like all other investors here worth their weight, Ray has invested over $40 million in gold over the past few years. Being a philanthropist, he has donated over $850 million to charity events and organizations around the world.He founded Bridgewater Associates and is worth over $17 billion. He onlyinvested heavilyin gold to reflect the level of risk present in the market and economy today. He is against holding cash as he assumes that the chance for growth of paper currency is highly limited and also susceptible to a number of changes.
Sam Zell founded Equity Group Investments after initially being in real estate businesses.He is the chairperson of 5 public companies that form the largest real estate investment trusts in the United States. He is worth $4.8 billion and has made a hefty investment in gold over the years while urging others to do the same. He first started investing in gold in 2019 with his excuse being in the rarity of large deposits. His reason for holding off was due to the cut of price of gold made in the 2011 corrections. The decrease in supply of gold will eventually affect the general price of gold hence the margin for profit created.
The total networth of Paul Singer is around $3.6 billion who became rich after founding his hedge fund firm called Elliot management. The firm was established back in the year 1977 and is worth over $1.3 million.Paul thinks gold is an undervalued asset which is why he has invested through his hedge fund and encourages people to do the same. One of the many reasons for increased investment in gold currently includeslow-interest rates and disruption to mining. Gold has the ability tomaintain its value over a long time unlike most currencies which is what makes it a perfect long term investment.