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

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Environment Canada says the Eastern Fraser Valley will enjoy plenty of sunshine this week. (Black Press News File)
Sunny weather to stay around all week in Eastern Fraser Valley

Chilliwack, Abbotsford and Hope all forecasted for a week free of rainfall

Chilliwack school trustee Barry Neufeld has called for the resignation of B.C.’s Minister of Education, Jennifer Whiteside. He made the call during a speech in Vancouver on April 10, 2021, in a rally for a parent embroiled in legal battles surrounding his child’s transition.
Chilliwack school trustee calls for B.C.’s minister of education to resign

Barry Neufeld spoke at rally for jailed father in Vancouver, calling SOGI 123 a ‘dangerous experiment’

Two-year-old Ivy McLeod, seen here on April 9, 2021 with four-year-old sister Elena and mom Vanessa, was born with limb differences. The family, including husband/dad Sean McLeod, is looking for a family puppy that also has a limb difference. (Jenna Hauck/ Chilliwack Progress)
Chilliwack family looking for puppy with limb difference, just like 2-year-old Ivy

Ivy McLeod born as bilateral amputee, now her family wants to find ‘companion’ puppy for her

The old seniors centre is adjacent to Mission Leisure Centre, which will compliment programs, amenities, parking, and security for the youth centre. Google Maps image.
Mission’s old seniors centre to be turned into youth centre

Council approves renovation costs of $105,000; youth lounge budget increase of $66,000

Four members with Divers for Cleaner Lakes and Oceans were out at Cultus Lake on March 28 and 29 hauling trash out of the waters. (Henry Wang)
PHOTOS: Out-of-town divers remove 100s of pounds of trash from Cultus Lake

Members of Divers for Cleaner Lakes and Oceans hauled out 470 pounds of trash over two days

B.C. Health Minister Adrian Dix and Premier John Horgan describe vaccine rollout at the legislature, March 29, 2021. (B.C. government)
1,262 more COVID-19 infections in B.C. Friday, 9,574 active cases

Province’s mass vaccination reaches one million people

People walk past the Olympic rings in Whistler, B.C., Friday, May 15, 2020. Whistler which is a travel destination for tourists around the world is seeing the effects of travel bans due to COVID-19. THE CANADIAN PRESS/Jonathan Hayward
Adults living, working in Whistler, B.C., eligible for COVID-19 vaccine on Monday

The move comes as the province deals with a rush of COVID-19 and variant cases in the community

RCMP crest. (Black Press Media files)
UPDATE: RCMP investigating after child, 6, dies at motel in Duncan, B.C.

The BC Coroners Service is conducting its own investigation into the circumstances around the child’s death

RCMP display some of the fish seized from three suspects who pleaded guilty to violating the Fisheries Act in 2019, in this undated handout photo. THE CANADIAN PRESS/HO - RCMP
3 banned from fishing, holding licences after overfishing violations near Vancouver Island

Mounties seized the group’s 30-foot fishing vessel and all equipment on board at the time

B.C. Premier John Horgan responds to questions during a postelection news conference in Vancouver, on Sunday, October 25, 2020. British Columbia’s opposition Liberals and Greens acknowledge the COVID-19 pandemic has presented huge challenges for Horgan’s government, but they say Monday’s throne speech must outline a coherent plan for the province’s economic, health, social and environmental future. THE CANADIAN PRESS/Darryl Dyck
Horgan’s NDP to bring in throne speech in B.C., Opposition wants coherent plan

Farnworth said the budget will include details of government investment in communities and infrastructure

FILE - An arena worker removes the net from the ice after the Vancouver Canucks and Calgary Flames NHL hockey game was postponed due to a positive COVID-19 test result, in Vancouver, British Columbia, in this Wednesday, March 31, 2021, file photo. As vaccinations ramp up past a pace of 3 million a day in the U.S, the NHL is in a tougher spot than the other three major North American professional sports leagues because seven of 31 teams are based on Canada. (Darryl Dyck/The Canadian Press via AP, File)
Vancouver Canucks scheduled to practice Sunday, resume games April 16 after COVID outbreak

Canucks outbreak delayed the team’s season by eight games

Emergency crews on scene after a small plane crashed in a grassy area on the northeast side of Boundary Bay Airport Saturday morning (April 10). A freelancer said the plane caught fire and one person was transported to hospital by BC Emergency Health Services. (Photo: Shane MacKichan)
1 taken to hospital after plane crash at Metro Vancouver airport

Plane appears to have suffered ‘significant’ damage, says freelancer

Most Read