Berkshire Hathaway Inc. (BRK.B)
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Warren Buffett’s Net Worth Jumps $4 Billion
94 year old Warren Buffett, born during the Great Depression, has a net worth of $147 billion, which has risen to just over $4 billion this year. Most is because of the success of Berkshire Hathaway (NYSE: BRK-B). That is the flagship of his wealth, which he created in 1970. A proof of the magnitude of his success is that $10,000 put into Berkshire 30 years ago would be worth $682,000 today. The stock is up 3% this year. Its current market cap is just above $1 trillion Buffett’s investment policy is not complex. He primarily buys public companies with strong brands that he thinks are undervalued. He has been a long term holder of Coda-Cola (NYSE: KO), and, until recently, Bank of America (NYSE: BAC). Occasionally, for reasons he rarely discloses, he does not hold for decades. One example is Apple (NASDAQ: AAPL). He first bought the stock in 2016, and soured on the stock recently. Buffett will sometimes buy public companies and take them private. He bought railroad Burlington Northern Santa Fe in 2010. He did the same with insurance company Geico in 1995. When the Geico deal closed, he commented, “It’s the low-cost operator in a field that is very big, and the low-cost operator tends to win over time.” Buffett has also bought some odd ball companies. He bought Nebraska Furniture Mart in 1983 for $60 million. He bought the TV station WPLG in 2014. The station is based in Miami. Buffett favors insurance companies, He owns Berkshire Hathaway Reinsurance Group, National Indemnity Company, Berkshire Hathaway Specialty Insurance, which focuses on business and commercial insurance. Describing these investments he said, “It’s so much fun because you get the money at the start, you know, and then you find out whether you’ve done something stupid later on.” What Buffett observers cannot figure out is why Berkshire is holding $325 billion in cash. A Bloomberg reporter wrote that it means he is worried about a large market downturn. Or, maybe he is just looking for something to buy. The post Warren Buffett’s Net Worth Jumps $4 Billion appeared first on 24/7 Wall St..
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Berkshire Hathaway Inc. Profile
| Insurance - Diversified Industry | Financial Services Sector | Mr. Warren E. Buffett CEO | NYSE Exchange | - ISIN |
| Germany Country | - Employees | - Last Dividend | 21 Jan 2010 Last Split | - IPO Date |
Overview
Berkshire Hathaway Inc. is a diversified multinational conglomerate that engages in multiple business operations around the globe. Primarily known for its significant presence in the insurance sector, the company also has robust interests in freight rail transportation and utility businesses. Operating worldwide, Berkshire Hathaway utilizes a subsidiary model to manage its vast range of operations in different industries. Whether it's providing various forms of insurance and reinsurance, operating one of North America's largest railroad systems, or generating and distributing electricity through a myriad of sources, Berkshire Hathaway has mastered diversification. The conglomerate's operations extend into manufacturing, retail, service provision, and even financial services, underpinning its reputation as a behemoth in the global market landscape. Incorporated in 1998 and based in Omaha, Nebraska, Berkshire Hathaway stands as a testament to successful investment and business management strategies, overseen by its legendary CEO, Warren Buffett.
Products and Services
- Insurance and Reinsurance:
Providing a broad spectrum of property, casualty, life, accident, and health insurance and reinsurance products to clients worldwide.
- Freight Rail Transportation:
Operates extensive railroad systems in North America, contributing significantly to the continent's freight logistics infrastructure.
- Utilities:
Generates, transmits, stores, and distributes electricity through a diverse mix of sources including natural gas, coal, and renewables. Also involved in natural gas distribution and infrastructure.
- Manufacturing:
Produces a wide range of products including chocolates, specialty chemicals, aerospace components, insulation and roofing, and paint, among others. Engages in building components and home construction too.
- Retail and Distribution:
Offers products such as recreational vehicles, apparel, jewelry, and electronics through various retail platforms. Also involved in the distribution of electronic components and logistics services.
- Services:
Franchises quick service restaurants, provides professional aviation training, shared aircraft ownership programs, and financial services related to its manufactured and site-built homes.
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