Despite the unsettled stock market over the past few weeks, which has witnessed downfalls of numerous stock prices, the share price of Warren Buffett's Berkshire Hathaway Inc. behaved the opposite way and has hit the all-time high mark of $500,000 for the first time yesterday during the market session.?
This is reflective of the company's status as a defensive?stock?in a market that has been turbulent amid the Ukraine-Russia war and rising inflation, as per a report by?Reuters.
Warren Buffett's Berkshire Hathaway currently has a market value of approximately $731 billion, ranking sixth in the United States, and Warren Buffett's 16.2% stake in it makes him the world's fifth?richest person at $119.2 billion, according to Forbes.
Last year, Berkshire Hathaway had generated a record $27.46 billion of operating profit, including gains at Geico car insurance, the BNSF railroad and Berkshire Hathaway Energy, as per Reuters.
Warren Buffett¡¯s company also owns dozens of other businesses, including the fast-growing Clayton Homes mobile home unit and the largest U.S. residential real estate brokerage.
Berkshire Hathaway¡¯s shares had also slightly outperformed the S&P 500 in 2021, after lagging in 2019 and 2020. They closed up 0.8% yesterday at $493,785 after hitting the historic 500,000 mark during the trading session on Monday.
U.S. companies with larger market capitalizations include Apple In, Microsoft Corp, Alphabet Inc, Amazon.com Inc and Tesla Inc. Also,?Apple is Berkshire's largest common stock holding.
About 77% of Berkshire¡¯s approximately 372,000 employees work in the USA.?As per?Reuters?report, Berkshire ended 2021 with $146.7 billion in cash.?
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