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VOL. 38 | NO. 33 | Friday, August 15, 2014
Berkshire Hathaway stock tops $200,000
OMAHA, Neb. (AP) — The stock price of Warren Buffett's Berkshire Hathaway topped $200,000 for the first time Thursday.
Class A shares of Berkshire jumped past the milestone to an all-time trading high of $201,740 Thursday morning.
The shares have long been the most-expensive U.S. stock. Buffett has never split Berkshire's A shares, although he did create more affordable Class B shares in 1996 that now sell for just over $134.
Berkshire's Class A shares first garnered a six-figure stock price in October 2006 when they moved above $100,000.
Earlier this month, the Omaha-based company reported second-quarter profits of $6.4 billion, or $3,889 per Class A share.
Berkshire Hathaway has come a long way since Buffett's investment partnership started buying shares for $7 and $8 apiece in 1962. At that point, Berkshire was a New England textile company.
After 1969, Berkshire became Buffett's investment vehicle and he used revenue from the textile firm to begin buying other companies such as National Indemnity insurance and See's Candy.
Today, many of its more than 80 subsidiaries, which include insurance, utility, railroad and other businesses, are performing well. And Berkshire has more than $55 billion cash on hand that could be used for acquisitions.