Warren Buffett's Berkshire Hathaway surpasses $1T market value: 'Good investment'

  • 📰 nypost
  • ⏱ Reading Time:
  • 41 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 37%
  • Publisher: 67%

Business News

Berkshire Hathaway,Stock Market,Stocks

When the market value hit $1 trillion, Berkshire shares had gained more than 5,600,000% since the year Buffett took over.

surpassed $1 trillion on Wednesday, reflecting investor confidence in the conglomerate that Warren Buffett built over nearly six decades into what many consider a proxy for the American economy.

In Wednesday trading, Berkshire’s Class A shares rose as much as 1.2% to just below $700,000. The more plentiful Class B shares trade for about 1/1,500th as much.He transformed it from a failing textile company into a colossus with dozens of old-economy businesses such as Geico car insurance, the BNSF railroad, Berkshire Hathaway Energy, Brooks running shoes, Dairy Queen ice cream, Ginsu knives and the World Book encyclopedia.

The $1 trillion valuation is based on Berkshire’s 553,234 Class A and 1,325,192,508 Class B shares outstanding as of July 23.When the market value hit $1 trillion, Berkshire shares had gained more than 5,600,000% since the year Buffett took over. As of Tuesday his fortune was about $144.9 billion, making him the world’s sixth-richest person, Forbes magazine said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 91. in BUSİNESS

Business Business Latest News, Business Business Headlines