Warren Buffett gives Donald Trump some advice as he celebrates Berkshire Hathaway’s success
Omaha, Nevada (AP) – Warren Buffett celebrated the success of Berkshire Hathaway last year in an annual letter to shareholders Saturday, since he took over A struggling New England textile company has been giving some advice to President Donald Trump in 60 years.
Buffett admits he has made occasional mistakes over the years without providing many specific examples, but assured shareholders that he chose the man to one day to succeed him as CEO Greg Abel, which is not among them. one. He wrote that whenever he discovers a large number of investment opportunities, Abel is ready to take action.
Buffett barely reflects his long term as CEO in the letter – with the death of 10 years ago by him and his long-term investment partner Charlie Munger, who published a separate statement to the company. think.
Buffett cites the fact that Berkshire paid zero income tax in the decade of taking over in 1965, which is a sure sign, a mistake, but over time, the amount Berkshire paid Growing with the conglomerate, last hitting $26.8 billion a year – “Company income tax is much more than the U.S. government receives from any company, even the U.S. tech giant that directs market value in trillions of dollars.”
Buffett has barely mentioned politics and current affairs in his recent letters – preferring to stay away from anything controversial that could hurt Berkshire – but on Saturday he urged the government to take responsibility for the money he sent.
“Thank you, Uncle Sam. One day your nieces and nephews at Berkshire want to pay you a bigger payment than we would in 2024. Spend money wisely. Take care of many people because they have not had their own fault, To get the short straw they deserve to live a better life.
“I think honestly in a very subtle way, and that’s a powerful message,” said Cathy Seifert, a research analyst at CFRA.
Given that Berkshire has sold most of its Apple and bank stocks over the past year, Abel will have a lot of resources to use when it eventually takes over, as he now holds $334.21 billion in cash insurance, BNSF Rail, a collection of major utilities. and a variety of major manufacturers and well-known retail businesses, including brands such as Cow Queen and See’s Candy. That’s almost twice as much as the $167.6 billion cash Berkshire held a year ago.
