Berkshire Hathaway stock price reaches $500,000

Berkshire Hathaway stock price reaches $500,000

The Omaha, Nebraska-based company's market value is approximately $731 billion, ranking sixth in the United States, and Buffett's 16.2% stake makes him the world's fifth-richest person at $119.2 billion, according to Forbes magazine.







Reuters









March 15, 2022 / 08:18 AM IST





Warren Buffett, CEO of Berkshire Hathaway, released his annual letter to shareholders.



The share price of Warren Buffett's Berkshire Hathaway Inc reached $500,000 for the first time on Monday, reflecting the company's status as a defensive stock in a market unsettled by events in Ukraine and rising inflation.

The Omaha, Nebraska-based company's market value is approximately $731 billion, ranking sixth in the United States, and Buffett's 16.2% stake makes him the world's fifth-richest person at $119.2 billion, according to Forbes magazine.

Berkshire generated a record $27.46 billion of operating profit last year, including gains at Geico car insurance, the BNSF railroad and Berkshire Hathaway Energy.

It also owns dozens of other businesses, including the fast-growing Clayton Homes mobile home unit and the largest U.S. residential real estate brokerage.

Berkshire specializes in "on the ground, Main Street-esque business activity," said Bill Smead, chief executive of Smead Capital Management Inc in Phoenix, which invests about $4.3