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Investor Warren Buffett’s fortune rose above $ 100 billion on Wednesday, when his company’s stock hit a record high of more than $ 400,000 each.
Class A shares in Berkshire Hathaway rose to $ 407,750 on Wednesday, before giving up some ground to end the day at $ 398,840. Class B shares in the Omaha, Nebraska-based conglomerate were being sold at a much more affordable price of $ 263.99.
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In general, Berkshire’s shares have increased in the past two weeks, since Buffett released his annual letter to shareholders at the end of last month. Even with the coronavirus pandemic weighing on many of Berkshire’s businesses, the company reported a profit of $ 35.8 billion in the fourth quarter, largely due to paper gains on the value of its investments.
| Ticker | Safety | Last | Change | Change % |
|---|---|---|---|---|
| BRK.A | BERKSHIRE HATHAWAY, INC. | 398,840.00 | +7,380.00 | + 1.89% |
| BRK.B | BERKSHIRE HATHAWAY, INC. | 263.99 | +4.97 | + 1.92% |
Buffett’s fortune, which is mainly linked to his ownership of 248,734 Class A shares, reached $ 101 billion at the peak of the shares on Wednesday. But he would have been worth a lot more if he hadn’t given large blocks of Berkshire Hathaway shares annually to the Bill and Melinda Gates Foundation and several other charities since 2006.
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Buffett estimates that the shares he donated to charity over the years were worth more than $ 37 billion in total at the time they were donated.
The 90-year-old investor was once the richest man in the world, but fell to fifth place on the current list of the richest people in the world by Forbes magazine. Jeff Bezos of Amazon is listed as the richest man in the world, with a fortune of $ 179.6 billion.
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Buffett’s Berkshire has more than 90 companies, including the BNSF railroad, the insurance company Geico and several major utility companies. The conglomerate also has manufacturing companies, furniture, footwear, jewelry, chocolates, underwear and bricks. And Berkshire holds large investments in Apple, Coca-Cola, Bank of America, American Express and other shares.