Posted 2/26/2024, 2:45:32 PM
Berkshire Posts Record Profit for 2nd Year; Buffett Touts Succession Plan and ‘Built to Last’ Company Despite Limited Growth Opportunities
- Berkshire Hathaway posted record annual profit for the second straight year, nearing $1 trillion market valuation
- Warren Buffett said Berkshire is "built to last" but has limited investment opportunities left to drive further eye-popping growth
- Berkshire's annual operating profit climbed 21% to $37.4 billion, boosted by insurance segment
- Buffett assured investors vice chairman Greg Abel is "ready to be CEO tomorrow" after death of longtime deputy Charlie Munger
- U.S. government threatened to sue Berkshire's PacifiCorp over alleged failure to cover $356 million in costs tied to 2020 Oregon wildfire