Warren Buffett-led Berkshire Hathaway‘s stock hit an all-time high on Monday after the company, reported its biggest-ever fourth-quarter earnings. The company’s Class A shares went up by 4%, closing at $747,485.49. Earlier, the shares had reached $755,968. With Berkshire’s early week surge, Buffett’s net worth grew by $6 billion, reported Forbes.
According to Forbes estimates, Buffett’s fortune of $155 billion makes him the sixth richest man in the entire world. However, he’s about $225 billion less wealthy than Musk.
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Berkshire’s stock prices had surpassed the $741,971 that was recorded last June, and this was caused by a trading error. The company’s class B shares, which are held more widely, had increased by 4.1%, closing at $498.42. This pushed Berkshire’s total value to $1.08 trillion.
According to Reuters, several analysts had predicted a rise in Berkshire’s stock price and earnings. Warren Buffett‘s fortune grew to $155.5 billion, making him the sixth richest person in the world, as per Forbes.
The company also made more bucks from its $334.2 billion in cash and investments, majorly in US Treasury bills. Since Berkshire slashed its stick in Apple last year, their cash doubled Cash. Net income, including gains and losses from stocks, was $89 billion.
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Buffett, in his annual letter to the shareholders said that Berkshire had performed better than he had expected. He also praised Geico’s CEO, Todd Combs, for improving the way the company handles insurance while also doing cost cutting. Geico’s profit from underwriting more than doubled in 2024, even after cutting over 2,300 jobs, on top of the 7,700 jobs cut in 2023, reported Reuters. Buffett also mentioned that at the age of 94, he won’t be CEO for much longer, and Greg Abel, who is 62 and a vice chairman at Berkshire, may take over and start writing the annual letters himself.
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