Aleksei Dmitry Melnik 
Ted Weschler, a Berkshire Hathaway deputy to Warren Buffett, had $264.4 million in his Roth account as of the end of 2018. Ted Weschler and Todd Combs are the heirs to Warren Buffett’s “stock picking” part at Berkshire Hathaway.
Ted Weschler, as a prominent figure, gave a personal statement justifying and clarifying his IRA, which discloses some intriguing insights. As a 22-year-old Junior Financial Analyst earning $22,000 a year, he opened his first “IRA” in 1984.
Ted Weschler’s Early IRA Ventures
In his letter, Ted Weschler appears to be confusing the phrases 401k and IRA. His timing was fortunate since 401k plans were still in their infancy, with the first debuting about 1980. There still is a copy of a 1982 WSJ newspaper article on these newfangled “salary reduction plans,” which were the original name for 401k plans.
At the end of 1989, his 401k/IRA balance had increased to $70,385 when he moved it to a self-directed IRA at Charles Schwab. Fast forwarding 23 years, his IRA was valued at $131,000,000 at the end of 2012! Ted Weschler instantly moved it over into a Roth IRA thanks to the new Roth IRA conversion option, despite having to pay $29 million in taxes. By 2018, the sum had increased to $264 million.
What is Ted Weschler’s Net Worth?
Ted Weschler soon made it obvious that he wanted to demonstrate that, despite his original IRA holding growing more than 300,000 percent from 1989 to 2018, he hadn’t engaged in any insider trading by having his IRA pay exorbitant prices for stocks that other people couldn’t afford. Ted Weschler stated that he achieved his results by investing exclusively in publicly traded equities.
Ted Weschler wants to urge young people to do what he did to build his nine-figure net worth: save and invest early and regularly and take advantage of any employer-provided retirement account perks. R. Ted Weschler’s net worth is projected to be at least $4.6 billion as of 2023.
