5 Growth Stocks That Billionaires Can’t Get Enough Of
Most billionaires today made their money through their own companies and successful business ventures. But they also know the wisdom of putting your money to work for you. While the bulk of Jeff Bezos’ wealth comes from his Amazon holdings, he’s also invested in many other tech stocks he believes in.
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Find out what stocks Bezos, and other billionaires, are buying right now.
Airbnb
An article by U.S. News & World Report reported some of Bezos’ top investments. In 2011, his personal venture capital firm bought into Airbnb Inc. stock through a Series B funding round. Now that the stock is publicly traded, you can also invest in this fast-growing vacation rental company. The stock has risen 45% in the past year, according to U.S. News & World Report.
Learn More: I’m a Self-Made Millionaire — 5 Stocks You Shouldn’t Sell
Amazon
Bezos isn’t the only billionaire with a large stake in Amazon. Citadel Advisors’ Ken Griffin added 4.3 million shares of Amazon in the fourth quarter of 2023, while Renaissance Technologies’ James Simons bought 4.3 million shares. With these market-movers favoring the tech stock, the price surged roughly 81% last year, per The Motley Fool.
Duolingo
Duolingo is a popular language-learning app that keeps kids and adults alike engaged with a friendly owl — an owl that prompts you to complete the day’s lesson and praises you for staying committed. The stock is currently down from its one-year high of $246, but well above its low of $117, trading for $219 right now. Billionaires like Israel Englander of Millennium Management — along with the leaders of Two Sigma Advisors and Two Sigma Investments, John Overdeck and David Siegel — also increased their position in the tech company last year, as The Motley Fool detailed.
NVIDIA
NVIDIA is part of the “Magnificent Seven” group of megacap stocks that dominate the S&P 500. While some stocks in the group, notably Tesla and Apple, saw losses last year, NVIDIA continues to grow. Billionaire Ray Dalio, who manages the hedge fund Bridgewater Associates, increased his position in NVIDIA to 268,489 shares, a 458% boost, in February of this year, as Reuters reported.
Microsoft
AI stocks like NVIDIA and Microsoft bolstered the “Magnificent Seven” last year and in early 2024. Although Appaloosa Management’s David Tepper sold off shares of NVIDIA in 2023, according to SEC filings, he boosted his position in Microsoft. It now makes up 11% of his portfolio. Microsoft’s commitment to AI, including its investment in OpenAI, puts it at the forefront of AI stocks.
Bottom Line
You don’t need billions of dollars to invest like the world’s largest hedge fund managers. Many stock trading apps today allow you to buy fractional shares of pricey stocks. Although following the experts is one way to grow your portfolio, understand that investing in the stock market always carries risks. Judge what you can afford to lose and speak to a finance professional if you need guidance.
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This article originally appeared on GOBankingRates.com: 5 Growth Stocks That Billionaires Can’t Get Enough Of
