Warren Buffett’s fortune exceeds $ 100 billion as Berkshire stock soars

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OMAHA, Neb. – Investor Warren Buffett’s fortune topped $ 100 billion on Wednesday when his company’s shares hit a record high of over $ 400,000 a piece.

The Class A shares of Berkshire Hathaway BRK.A,
+ 0.55%
climbed to $ 407,750 on Wednesday before giving way to end the day at $ 398,840. Class B BRK.B shares,
+ 0.74%
of the Omaha, Nebraska-based conglomerate were selling for a much more affordable price of $ 263.99.

Berkshire shares have generally risen in the past two weeks since Buffett’s exit its annual letter to shareholders at the end of last month. Even with the coronavirus pandemic weighing on many businesses in Berkshire, the company reported a fourth quarter profit of $ 35.8 billion, largely thanks to paper gains on the value of its investments.

Buffett’s fortune, which is mainly linked to his holding of 248,734 Class A shares, topped $ 101 billion on Wednesday at the share’s high. But it would be worth a lot more if he hadn’t donated large blocks of Berkshire Hathaway shares each year to the Bill and Melinda Gates Foundation and several other charities since 2006.

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

The 90-year-old investor was once the richest man in the world, but has fallen back to fifth on Forbes magazine’s current list of the world’s richest people. AMZN from Amazon,
-0.82%
Jeff Bezos is listed as the richest man in the world with a fortune of $ 179.6 billion.

Buffett’s Berkshire owns more than 90 companies, including the BNSF Railway, Geico Insurance and several large utilities. The conglomerate also owns manufacturing, furniture, footwear, jewelry, chocolate, underwear and brick businesses. And Berkshire has major investments in Apple AAPL,
+ 2.30%,
Coca Cola KO,
+ 0.74%,
Bank of America BAC,
+ 0.50%,
American Express AXP,
+ 0.12%
and other actions.

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