Technology stocks are plummeting due to the U.S. Fed’s imminent rate hike, but Warren Buffett, the epitome of “value investment,” is on a roll. Stocks of Berkshire Hathaway, an investment company run by Buffett, surpassed $500,000, breaking an all-time high.
On the New York Stock Exchange on the 14th (local time), Berkshire broke an all-time high of $493,785, up 0.81% from the previous trading day. In particular, Berkshire’s stock price surpassed $500,000 during the day.
Berkshire’s stocks soared because it achieved an operating profit of $27.46 billion last year, marking as the highest level in Berkshire history.
As a result, Berkshire’s stock price rose 10% this year. This is in stark contrast to the S&P 500 index, which plunged 12% this year, and the Nasdaq, which entered the bare market (downstream).
As a result, Berkshire’s market capitalization is $728.9 billion, ranking sixth among U.S. companies.
Buffett owns a 16.2% stake in the company. The addition from this stock price rise is that his personal property is $119.2 billion, ranking fifth in the world.
Until last month, Buffett had personal property of $114 billion, ranking eighth in the world’s billionaire list. However, as Berkshire’s stock price soared recently, it jumped three notches to fifth place.
Meanwhile in the 14th (U.S. Eastern Time), the Standard & Poor’s 500 Index closed at 4,173.11, down 31.2 points (-0.74%) from the previous day on the New York Stock Exch ange (NYSE). The NASDAQ 100 index closed at 13,046.64, down 255.19 points (-1.92%) from the previous day.The technology-oriented NASDAQ Composite Index closed at 12,581.22, down 262.59 points (-2.04%) from the previous day. The Dow Jones Industrial Index closed at 32,945.24, up 1.05 points (0.0%) from the previous day.
