Ace investor and billionaire Warren Buffett recently announced that he will retire from Berkshire Hathaway by the end of this year. Moreover, Buffett named closed aide Greg Abel as the next CEO of the group. Since the news broke out, there is a wave of praise and acknowledgement for Buffett’s 60 years long run at the helm.
Undoubtedly, Buffett is one of the greatest investors of all time. The chairman and largest shareholder of Berkshire Hathaway has the fortune of $169 billion and is currently the 5th richest individual in the world, as per the Bloomberg Billionaires Index.
Buffet along with his long time partner, late Charlie Munger had an ultimate “bull run” on the Wall Street. Under them, the Berkshire gave over 55,00,000% returns in 60 years (1964-2024). Under Buffet and Munger the Berkshire became a $1.2 trillion conglomerate. Moreover, the group also expanded its Class A shares to worth $167 billion.
What Else For Berkshire Under Buffet?
According to a Bloomberg report, the conglomerate’s stock delivered 55,02,284% returns under the leadership of Buffett in 60 years between 1964 and 2024. Moreover, the stock surged 39,054% on the S&P 500 stock index, which translates into an annualised return of about 20%. This is almost double of what S&P delivered during the same period.
Under Buffet, the Berkshire became the most valued non-tech giant or non-oil producer company in the world, said the report, adding, the company’s market capitalisation is now $1.2 trillion, which is 8th-highest in global public markets.
The group now operates in around 180 business categories, including auto dealerships, chemical producers, chocolate producers, gas stations, home builders, power utilities, railroads, real estate brokers, sports brands, and others. This generates the annual revenue of about $400 billion, said the report.
Buffet’s famous stock picks, including Apple, Bank of America and Coca-Cola, gained him fame and investors’ confidence. These stocks now account for 70% of the group’s stock portfolio of $263 billion. Moreover, the conglomerate now holds a record cash reserve of approximately $347.7 billion as of the end of Q1. The group also owns 5% of the circulating US Treasury bills. Collectively, all Berkshire companies have 3,92,396 employees, as of 2024.
