Well, 2016 is officially a wrap. It’s a new year, full of possibility, and chances are— even if you won’t admit it— you’ve got some hopes for the next year. As for what 2017 has in store for famous investor Warren Buffett and his conglomerate Berkshire Hathaway, we will have to wait and see, but we can say for sure that 2016 was a good year for Buffett.
Over the course of the year, shares of Berkshire Hathaway increased 20%. In fact, the class A shares for Berkshire reached a huge milestone and traded for more than $250,000— $250,419.50 to be exact. This is the highest value that shares for Berkshire have been traded for since the textile company was established in 1839.
More than that, this has been an incredible year for Buffett’s personal fortune as well, granted the increased value of Berkshire shares is helping out. Buffett’s personal wealth increased more over the course of 2016 than any other billionaire in the nation— a whopping $12.3 billion.
Don’t get me wrong, Buffett had his bumps in the road during 2016 like the rest of us. Wells Fargo, who’s largest shareholder is none other than Berkshire Hathaway, had a fraud scandal go viral that cost the company $185 million, and even dropped Berkshire shares about 4%. The company did make a comeback, though, right around the presidential election, which brings me to my next thought.
Buffett was a well-known supporter of Hillary Clinton during this years election, another thing that didn’t work out well for him. Even upon Trump’s victory, though, Buffett remained respectful. Even though Buffett was by no means a Trump supporter, he still benefited from the election making about $8 million from the post-election stock market surge.
Buffett, thanks to his $12.3 billion acquired in 2016, is currently ranked as the second wealthiest man in the world. To put it in perspective, the 5th richest man in the world, Amazon CEO Jeff Bezos, increased his wealth by $6.6 billion, which is not even in the top three biggest increases of the year.