Warren Buffett’s letter to Berkshire Hathaway shareholders revealed $5 billion in stock buybacks and plans for his Berkshire stake
to Berkshire Hathaway shareholders, billionaire investor Warren Buffett addressed the steady performance of the 55-year-old investment conglomerate, now worth more than $560 billion, and revealed his plan for his own share of the company following his death.
Berkshire’s stock portfolio, which includes companies like Bank of America, Coca Cola, and Southwest Airlines, is now worth a staggering $248 billion. Berkshire pulled in $24 billion in operating earnings and $81.4 billion in net income in 2019, $53.7 billion of that coming from net unrealized gains in the stocks it holds.
The value of Berkshire’s stake in Apple nearly doubled last year, from $40 billion at the end of 2018 to $73 billion at the end of 2019. $2.2 billion on stock repurchases after easing its buyback policy in 2018, bringing the total spending on stock buybacks up to $5 billion for the year. Buffett, 89, addressed plans for his eventual departure from the company, writing that his will specifies that none of his stock holdings—currently worth nearly $90 billion—be sold at the time of his death; instead, his shares will be distributed as charitable grants over a period of 12 to 15 years. Buffett said Berkshire’s corporate income tax bill was $3.6 billion in 2019. That’s 1.5% of the federal income taxes paid by all of corporate America .
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