Berkshire Hathaway Chairman and CEO Warren Buffett speaks during an interview in Omaha, Neb. (AP Photo/Nati Harnik, File)

Berkshire Hathaway Chairman and CEO Warren Buffett speaks during an interview in Omaha, Neb. (AP Photo/Nati Harnik, File)

Warren Buffett’s fortune tops $100 billion as his stock soars

He’s given large blocks of Berkshire Hathaway stock annually to the Bill and Melinda Gates Foundation

Investor Warren Buffett’s fortune surged above $100 billion Wednesday when shares of his company hit a record high at over $400,000 apiece.

Berkshire Hathaway’s Class A shares climbed to $407,750 Wednesday before giving up some ground to close the day at $398,840. The Class B shares of the Omaha, Nebraska, based conglomerate were selling for a much more affordable price of $263.99.

Berkshire’s shares have generally been increasing over the past two weeks since Buffett released his annual letter to shareholders late last month. Even with the coronavirus pandemic weighing on many of Berkshire’s businesses, the company reported a $35.8 billion fourth-quarter profit, largely due to paper gains on the value of its investments.

Buffett’s fortune, which is mostly tied to his ownership of 248,734 Class A shares, topped $101 billion at the stock’s peak Wednesday. But he would be worth significantly more if he hadn’t been giving away large blocks of Berkshire Hathaway stock annually to the Bill and Melinda Gates Foundation and several other charities since 2006.

Buffett estimates that the shares he has given to charity over the years were worth more than $37 billion total at the time they were given away.

The 90-year-old investor was once the world’s richest man, but he has fallen back to No. 5 in Forbes magazine’s current list of the world’s richest people. Amazon’s Jeff Bezos is listed as the world’s richest man with a $179.6 billion fortune.

Buffett’s Berkshire owns more than 90 companies outright, including BNSF railroad, Geico insurance and several major utilities. The conglomerate also owns manufacturing, furniture, shoe, jewelry, chocolate, underwear and brick companies. And Berkshire holds major investments in Apple, Coca-Cola, Bank of America, American Express and other stocks.

Finance

Just Posted

1914
It happened this week in 1914

May 9 - 15: Compiled by Dave Humphrey from the archived newspapers… Continue reading

Doses of the Pfizer coronavirus vaccine are seen being prepared on Wednesday, May 12, 2021, in Decatur, Ga. Hundreds of children, ages 12 to 15, received the Pfizer vaccine at the DeKalb Pediatric Center, just days after it was approved for use within their age group. (AP Photo/Ron Harris)
One death, 60 new cases of COVID-19 in Interior Health

The death is connected to the outbreak at Spring Valley long-term care in Kelowna

The Salmon Arm RCMP seize hundreds of grams of drugs in a raid in Sorrento on March 20, 2021. (Black Press file photo)
RCMP have suspect identified in rash of local thefts

Police have a suspect in a rash of recent thefts from local… Continue reading

Rotary Way is being repaved from 4th Street South to the second bridge, just past St. Mary’s School. (Barry Coulter photo)
Rotary Way being repaved along Joseph Creek

The Rotary Club is having a portion of its namesake trail repaved.… Continue reading

The Libby Dam on the Kootenai River in Montana. The dam created the Koocanusa Reservoir, which straddles the B.C./Montana border. (photo courtesy Wikipedia)
Outflow at Libby Dam to be increased

Volume increase to aid migration and spawning conditions for endangered white sturgeon in the Kootenai River

Prince Rupert was one of the first B.C. communities targeted for mass vaccination after a steep rise in infections. Grey area marks community-wide vaccine distribution. (B.C. Centre for Disease Control)
B.C. tracks big drop in COVID-19 infections after vaccination

Prince Rupert, Indigenous communities show improvement

The bodies of Carlo and Erick Fryer were discovered by a local couple walking on a remote forest road in Naramata on May 10. (Submitted)
Kamloops brothers identified as pair found dead near Penticton

The bodies of Carlo and Erick Fryer were discovered by a local couple walking

Municipal governments around B.C. have emergency authority to conduct meetings online, use mail voting and spend reserve funds on operation expenses. (Penticton Western News)
Online council meetings, mail-in voting option to be extended in B.C.

Proposed law makes municipal COVID-19 exceptions permanent

A nurse prepares a dose of the COVID-19 vaccine in Kelowna on Tuesday, March 16. (Phil McLachlan/Black Press)
British Columbians aged 20+ can book for vaccine Saturday, those 18+ on Sunday

‘We are also actively working to to incorporate the ages 12 to 17 into our immunization program’

The AstraZeneca-Oxford University vaccine. (AP/Eranga Jayawardena)
2nd person in B.C. diagnosed with rare blood clotting after AstraZeneca vaccine

The man, in his 40s, is currently receiving care at a hospital in the Fraser Health region

Brian Peach rescues ducklings from a storm drain in Smithers May 12. (Lauren L’Orsa video screen shot)
VIDEO: Smithers neighbours rescue ducklings from storm drain

Momma and babies made it safely back to the creek that runs behind Turner Way

Signage for ICBC, the Insurance Corporation of British Columbia, is shown in Victoria, B.C., on February 6, 2018. THE CANADIAN PRESS/Chad Hipolito
$150 refunds issued to eligible customers following ICBC’s switch to ‘enhanced care’

Savings amassed from the insurance policy change will lead to one-time rebates for close to 4 million customers

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Join Black Press Media and Do Some Good
Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Most Read