"A Figure Who Invested in America's Growth
with Honesty, Optimism, and Common Sense"
Global business leaders continue to praise legendary investor Warren Buffett, Chairman of Berkshire Hathaway, who has announced his retirement. On May 3 (local time), Buffett revealed at the Berkshire annual shareholders meeting in Omaha, Nebraska, USA, that he will step down from Berkshire, which he has led for the past 60 years, at the end of this year.
According to Bloomberg News on May 4 (local time), Jamie Dimon, CEO of JPMorgan, described Buffett as "a person who represents all the positive aspects of American capitalism." Dimon further stated, "Buffett has invested in the growth of America and American businesses with honesty, optimism, and common sense," adding, "I have learned a great deal from Buffett, and it is an honor to call him a friend."
Tim Cook, CEO of Apple, also shared on social media the previous day that "countless people, including myself, have been inspired by Chairman Buffett's wisdom." Brian Moynihan, CEO of Bank of America, also expressed gratitude for Buffett's many lessons on life and business.
Buffett is a legendary investor who has continued to invest for 60 years based on value investing. Berkshire Hathaway, which Buffett acquired in 1964, has transformed from a failing textile company into a holding company with 180 subsidiaries generating annual revenues of $400 billion. The list of subsidiaries, which spans a wide range of sectors including railroads, energy, and chemicals, also includes major companies such as the large American insurance firm GEICO, battery manufacturer Duracell, and fast-food chain Dairy Queen.
The share price of Berkshire Hathaway has risen by 5,502,284% over 60 years, from 1964 to 2024. This equates to an average annual return of 20%. Over the same period, the total return of the S&P 500, including dividends, was 39,054%. Currently, Berkshire Hathaway's market capitalization stands at $1.2 trillion, ranking it eighth among listed companies worldwide.
Buffett is especially renowned for his value investing strategy, which involves selecting stocks based on their intrinsic value and holding them for the long term. A small number of stocks?Apple, Coca-Cola, Bank of America, American Express, and Chevron?account for 70% of Berkshire Hathaway's portfolio, which totals $263 billion.
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