Billionaire Warren Buffett’s group has profits up more than 500%.

Berkshire Hathaway, which invests in various sectors of the economy, benefited from the improvement in the shares of companies like Apple

London – Net income, including equity and other short-term investment income, of Berkshire Hatawaya conglomerate managed by Warren Buffet, rose to $35.5 billion in the first quarter of this year, compared with $5.58 billion in the same period a year earlier. The evolution corresponds to an increase of about 530%.

Warren Buffett, known as “the Oracle of Omaha”, is one of the most successful investors of all time. He occupied the top of the magazine’s list of the richest people in the world for a few years. forbes. Last year he ranked fifth in that ranking, with an estimated fortune of $106 billion.

Equity investments surged in the first quarter, including Apple, which is by far Buffett’s largest single holding. Berkshire also significantly increased its stake in Occidental Petroleum last year.

Warren Buffett’s company was a net seller of stock in the quarter, garnering $10.4 billion net of stock sales. Berkshire’s share repurchases rose to $4.4 billion, the most since the first quarter of 2021, up from $2.8 billion in the fourth quarter, but its cash jumped to $130.62 billion from $128 billion in the fourth quarter.

Source: Terra

Rose

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