©AP
Superinvestor Warren Buffett lost a lot of his investment last year. This resulted in a loss of $22.8 billion for Berkshire Hathaway. But these numbers paint a distorted picture, as the 92-year-old stresses in the press release and in the annual letter to investors in his company.
mtmsource: BELGA
Berkshire Hathaway chooses long-term investments and price fluctuations on a quarterly or annual basis “create misinformation for investors,” it says, among other things. Buffett also states that good investments will eventually increase in value and will also generate profits. “As time goes by, it only takes a few winners to make miracles happen.” But “starting early and living past 90” also helps a lot, jokes Buffet, whose business partner Charlie Munger is 99.
Berkshire Hathaway has earned $30.8 billion from its own activities, which is about €29.1 billion. This was more than $27.5 billion in the previous year. Berkshire Hathaway operates in the insurance industry, railroads, energy companies, and more.
In the 10 years from 2012 to 2021, Berkshire Hathaway paid $32 billion in taxes, one-thousandth of all taxes the US government received during that period, according to Buffet. The Oracle of Omaha, as one of Buffett’s nicknames goes, hopes to pay more taxes in the future. “America’s dynamism has contributed greatly to the successes of Berkshire Hathaway.”
“Total coffee specialist. Hardcore reader. Incurable music scholar. Web guru. Freelance troublemaker. Problem solver. Travel trailblazer.”
More Stories
Broken smartphone, washing machine or other device? As a consumer you are now entitled to this
Moroccan military spending is declining, and Algerian spending is accelerating
Rats on board freighter delay kiwi season in Zesbury.