warren-buffet
Business

As his stock soars, Warren Buffett’s fortune surpasses $100 billion

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Berkshire Hathaway’s Class A shares soared to $407,750 on Wednesday before falling down to $398,840 at the close.

Warren Buffett’s fortune soared past $100 billion on Wednesday, as his company’s stock reached a new high of over $400,000 per share.

Berkshire Hathaway’s Class A shares soared to $407,750 on Wednesday before falling down to $398,840 at the close. The Omaha, Nebraska-based conglomerate’s Class B shares were selling for $263.99, a far more reasonable amount.

Berkshire Hathaway’s stock has been steadily rising over the last two weeks, following the publication of Buffett’s annual letter to shareholders late last month. Despite the impact of the coronavirus pandemic on many of Berkshire’s companies, the corporation posted a $35.8 billion fourth-quarter profit, owing largely to gains on the valuation of its assets on paper.

At the stock’s height on Wednesday, Buffett’s fortune, which is largely based on his ownership of 248,734 Class A shares, surpassed $101 billion. But if he hadn’t been giving away big blocks of Berkshire Hathaway stock to the Bill and Melinda Gates Foundation and several other charities every year since 2006, he’d be worth a lot more.

Since Warren Buffett published his annual letter to shareholders late last month, Berkshire’s stock has been steadily growing for the past two weeks. Despite the coronavirus pandemic wreaking havoc on many of Berkshire’s companies, the firm posted a $35.8 billion fourth-quarter profit, owing largely to paper profits on its investments’ value.

At the stock’s height on Wednesday, Buffett’s fortune, which is largely based on his ownership of 248,734 Class A shares, topped $101 billion. But if he hadn’t been contributing huge blocks of Berkshire Hathaway stock to the Bill and Melinda Gates Foundation and other charities every year since 2006, he’d be worth a lot more.

Berkshire Hathaway’s stock has been steadily rising over the past two weeks, following the publication of Buffett’s annual letter to shareholders late last month. Despite the coronavirus pandemic wreaking havoc on many of Berkshire’s companies, the corporation posted a $35.8 billion fourth-quarter profit, owing largely to increases in the valuation of its assets on paper.

Buffett’s fortune, which is largely based on his holding of 248,734 Class A shares, peaked at $101 billion on Wednesday. But he would be much more valuable if he hadn’t been donating big blocks of Berkshire Hathaway stock to the Bill and Melinda Gates Foundation and other charities every year since 2006.


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