(Reuters) – Warren Buffett’s fortune reached $ 100 billion on Wednesday, as investors pushed the share price of his company Berkshire Hathaway Inc to a record high.
Buffett’s net worth, as measured by Forbes magazine, comes almost entirely from owning about one-sixth of Berkshire, a roughly $ 600 billion company.
Berkshire’s share price rose further in March, and its Class A shares topped $ 400,000 on Wednesday.
That came after the Omaha, Nebraska-based company on Feb. 27 said fourth-quarter operating results improved despite the coronavirus pandemic, while earnings at Apple Inc and other stocks drove a profit. overall of $ 35.8 billion.
Buffett’s 90-year-old net worth would be higher if he hadn’t started donating his Berkshire shares in 2006 to the Bill and Melinda Gates Foundation and four family charities.
Buffett had previously owned nearly a third of Berkshire, and his donations totaled more than $ 37 billion when made.
Berkshire was a failing textile company when Buffett took control in 1965. He now owns more than 90 businesses, including auto insurer Geico and the BNSF railroad, and ended last year with $ 281.2 billion in stock.
Buffett, one of the world’s most celebrated investors, was once the richest person in the world, but has been ignored by several executives whose companies have raised stock prices the fastest.
Before this year, Berkshire shares were behind Standard & Poor’s 500, including dividends, during the previous decade.
The stock has outperformed in 2021 and some analysts raised their price targets this month.
Forbes said Buffett is fifth on its list of the world’s richest people, after Amazon.com’s Jeff Bezos, Tesla’s Elon Musk, LVMH’s Bernard Arnault Moet Hennessy and his family, and the philanthropist and co-founder of Microsoft. Bill Gates.
Reporting by Jonathan Stempel in New York; Edited by Marguerita Choy