Buffett Now Second Richest in the World

After Berkshire Hathaway shares have reached record numbers this past Friday, Warren Buffett has now slid into the second spot as the second richest persons in the world.

Currently, Class B shares of Berkshire Hathaway are trading at $152 a share, and this is a 27% increase year to date.

The latest rise in price of Berkshire shares puts the 84-year-old billionaire investor a head of Carlos Slim, the Mexican billionaire, and now let’s him solely take over the second spot according to information on Bloomberg. Buffett is in second place only to Microsoft founder and good friend Bill Gates.

This year, Warren Buffett has gained an incredible amount of wealth as the shares of Berkshire Hathaway – Class A – are trading for nearly $230,000 a share. These Class A shares have finally risen over the $200,000 per share market for the first time in history and it did that in August. In the most recent annual report, Buffett said that net worth is currently growing faster than book value.

At this time, Buffett’s net worth is estimated at $73.7 billion. This is roughly $300 million more than what Carlos Slim is worth.

In recent months, Berkshire Hathaway has been on a serious spree of acquisitions.

In November alone, Buffett and Berkshire Hathaway announced that they are going to pay $4.7 billion to purchase Duracell from Procter & Gamble. They also announced in October that they plan to buy the largest privately held vehicle dealership in the United States named the Van Tuyl Group for an amount that was undisclosed.

As well, earlier within the year, Berkshire Hathaway purchased a TV station in Miami from Graham Holdings Co. by swapping stock in the company that they’ve held for more than four decades.

Berkshire also has plans to help Burger King take over Tim Hortons, the Canadian coffee chain, by providing $3 billion worth of funding.

Leave a Reply

Your email address will not be published. Required fields are marked *