If there is one good thing that can be said for president-elect Donald Trump, it is that his landmark win has had a big impact on the stock market and the economy, and in a good way. Since the election results on Nov. 8, 2016, bank stocks have surged, and the DOW has enjoyed a particularly robust month, with many all-time highs as a result of the anticipated lower regulation during Trump’s four-year term.
Unsurprisingly, Warren Buffet’s investment portfolio, which features a wide range of businesses including the energy industry, has definitely not been excluded in the impressive growth. Quite the contrary. According to an article by CNBC, Buffett has gained $4.3 billion in wealth as a result of the surge, and has the opportunity to earn even more in the coming days.
The additional wealth looks to be coming from a myriad of places—mostly Berkshire’s Class B shares, which jumped from 8.6% to 20% year to date. And, to make things look even brighter for the 3rd richest man in the world, the warrants that Buffett purchased in 2011 will give him the rights to purchase 700 million shares of Bank of America at $7.14 each. Those same shares have, since the deal was made, humped roughly 15%, which could result in another $3 billion in profits. That comes to around $11 billion in the weeks following the president-elect’s win.
Despite the fact that Buffett supported Hillary during the 2016 election, Buffett stated many times that that no matter who won the election, he and Berkshire Hathaway would profit and likely be just fine. And, as we’ve come to expect from the Oracle of Omaha, it looks like he was right. The unshakable Berkshire Hathaway has continued to profit, and hopefully will do so for many years to come.