New York: Berkshire Hathaway Inc’s share price yesterday crossed $200,000 for the first time, the latest milestone for the company that Warren Buffett built over nearly five decades into what some analysts view as a microcosm of the US economy.
Class A shares of Berkshire, which have never been split, rose as high as $201,114, as the Omaha, Nebraska-based company’s market value swelled to $327.8bn, making it the fourth-largest in the benchmark S&P 500 index.
Berkshire’s share price has doubled since it first crossed the $100,000 barrier on October 5, 2006. The S&P 500 has jumped 44 percent since that date through Wednesday. Buffett, who turns 84 on Aug. 30 and is the world’s third-richest person, oversees a conglomerate with more than 80 businesses ranging from Geico car insurance to the BNSF railroad to Dairy Queen ice cream, and more than $119bn of stocks such as Wells Fargo & Co and Coca-Cola Co.