The Strategist

Warren Buffet's Berkshire increases net profit by 20 times in 2020

02/25/2020 - 09:13

Net profit of Berkshire Hathaway, an investment firm owned by US billionaire Warren Buffet, jumped 20 times in 2019 to $ 81.4 billion from 4.021 billion in the previous year, the company said in its financial statements.

The company associates this growth mainly with last year’s tax reform of US President Donald Trump.

"Now Berkshire should reflect... the rise and fall in the value of shares in the results of each quarter, no matter how capricious these fluctuations are," the company said in a release.

Revenues for 2019 increased by 2.7%, to $ 254.6 billion.

Head of the company, Warren Buffet, said that the company would not suffer if he left, because it is "100% prepared."

Buffett is one of the ten richest people in the world. According to the Bloomberg Billionaires Index (BBI), his wealth is estimated at $ 86.6 billion.