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Berkshire Hathaway Inc. (BRKB) is a multinational conglomerate holding company headquartered in Omaha, Nebraska, United States. Founded by Warren Buffett, this company is known for its extensive portfolio of wholly owned businesses and significant equity stakes in publicly traded companies.
Key sectors of Berkshire Hathaway's operations include insurance, freight rail transportation, energy generation and distribution, manufacturing, and retail. Notable subsidiaries include GEICO, BNSF Railway, Berkshire Hathaway Energy, and many others.
Berkshire Hathaway's strategy revolves around acquiring companies with strong fundamentals and holding them for long-term value creation. The company has demonstrated consistent financial strength, boasting a robust balance sheet and substantial cash reserves. This financial stability allows Berkshire to capitalize on investment opportunities and navigate economic downturns effectively.
Recent achievements include significant investments in technology giants such as Apple, and ongoing projects in renewable energy through its energy subsidiary. Berkshire Hathaway's diverse portfolio underscores its resilience and adaptability in various economic climates.
The company's partnerships and strategic investments reflect its commitment to sustainable growth and value creation for its shareholders. With a focus on long-term performance, Berkshire Hathaway remains a pivotal player in the global market landscape.
Warren E. Buffett announced the conversion of 8,674 A shares into 13,011,000 B shares to facilitate the donation of 13,008,758 B shares of Berkshire Hathaway stock to five foundations. These include 9,930,357 shares to the Bill & Melinda Gates Foundation Trust, 993,035 shares to the Susan Thompson Buffett Foundation, and 695,122 shares each to the Sherwood Foundation, Howard G. Buffett Foundation, and NoVo Foundation. Post-donation, Buffett holds 207,963 A shares and 2,586 B shares. He emphasizes that from 2006 to the present, he has neither bought nor sold any Berkshire shares and does not intend to. The donations align with lifetime commitments made in 2006, and his will stipulates that over 99% of his estate will go to philanthropic causes. As of now, Buffett's remaining A shares are valued at about $127 billion, representing roughly 99½% of his net worth.
Berkshire Hathaway Inc. reported its first-quarter earnings for 2024, revealing a significant decrease in net earnings compared to the same period in 2023. Net earnings attributable to Berkshire shareholders were $12.7 billion, with investment gains amounting to $1.48 billion and operating earnings at $11.22 billion. Earnings per Class A Share were $8.825, while for Class B Share it was $5.88. The company also highlighted the importance of the 10-Q report for detailed investment judgment.
Berkshire Hathaway Inc. will release its first-quarter earnings on May 4, 2024, along with Form 10-Q. The 2024 Annual Shareholders Meeting will feature Warren Buffett, Greg Abel, and Ajit Jain in a Q&A session broadcast on CNBC. The meeting will showcase the Annual Meeting movie previously exclusive to attendees in Omaha.
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