Berkshire Hathaway earned $11.2 billion in the first quarter – E24

The investment company of financial chief Warren Buffett is now sitting on a cash balance of a record 189 billion dollars.

The case is being updated…

The quarterly report of Berkshire Hathaway for the first quarter shows, among other things, the following:

• Total revenues rose to $89.9 billion from $85.4 billion in the same quarter last year.
• The operating result was 11.3 billion, a decrease from 8 billion in the first quarter of 2023.

The report is presented ahead of the investment company’s general meeting, which is called “Woodstock for capitalists”.

Earned on insurance

Berkshire Hathaway’s strong operating result is driven, among other things, by a good return on investments in insurance.

The company’s rail investments raked in $1.1 billion in profit in the first quarter, a slight decrease from the first quarter last year.

Cash holdings of $189 billion have never been greater.

The value of the share portfolio is USD 336 billion, which is a decrease from USD 354 billion at the end of the year.

Less responsibility

93-year-old Warren Buffett has taken on less responsibility at Berkshire Hathaway in recent years. Nevertheless, he has not publicly announced that he wants to step down, even after he was stricken with prostate cancer in 2012.

This year’s general meeting is the first to be held after the death of Charles Munger. He was one of Berkshire Hathaway’s biggest profiles and the investment company’s deputy chairman.

According to Bloomberg’s billionaire index, Warren Buffett is the world’s ninth richest person.

Buffett has run Berkshire Hathaway since 1965.