The headlines of Fox Business Flash are here. See what clicks on FoxBusiness.com.
Investor Warren Buffett’s fortune rose more than $ 100 billion on Wednesday when his company’s shares reached a record high of more than $ 400,000 apiece.
Berkshire Hathaway’s Class A shares climbed to $ 407,750 on Wednesday before giving up ground to close the day at $ 398,840. The B shares of Omaha, Nebraska-based conglomerate, sold at a much cheaper price of $ 263.99.
GET FOX-BUSINESS PARTS BY CLICK HERE
Berkshire’s shares have generally risen over the past two weeks since Buffett announced his annual letter to shareholders late last month. Even with the coronavirus pandemic weighing heavily on Berkshire’s businesses, the company posted a profit of $ 35.8 billion in the fourth quarter, largely due to paper profits on the value of its investments.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| 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, mostly linked to its ownership of 248,734 Class A shares, peaked at $ 101 billion on Wednesday. But he would have been worth significantly more if he had not given away large blocks of Berkshire Hathaway shares to the Bill and Melinda Gates Foundation and several other charities annually since 2006.
WARREN BUFFETT IN ANNUAL LETTER: WHY TO ALWAYS BET ON AMERICA
Buffett estimates that the shares he gave to charity over the years were worth more than $ 37 billion when they were given away.
The 90-year-old investor was once the world’s richest man, but he has fallen back to number 5 in Forbes magazine’s current list of the richest people in the world. Amazon’s Jeff Bezos is listed as the richest man in the world with a fortune of $ 179.6 billion.
CLICK HERE TO READ MORE ABOUT FOX BUSINESS
Buffett’s Berkshire owns more than 90 companies, including BNSF Railway, Geico Insurance and several key utilities. The conglomerate also owns manufacturing, furniture, shoe, jewelry, chocolate, lingerie and brick businesses. And Berkshire holds large investments in Apple, Coca-Cola, Bank of America, American Express and other stocks.