- Warren Buffett posted his annual message to Berkshire Hathaway shareholders on Saturday.
- The investor touched on Berkshire’s tax payments and urged the government to spend wisely.
- Puffett praised mothers who would like to turn around Jiko and praised Greg Abel.
Warren Buffett emphasized the huge scale of the Hathaway’s tax payments, urged the government to wisely spend money, and praised two of his successors in his annual message to shareholders on Saturday.
The 94-year-old investment icon wrote that his conglomerate paying a zero income tax in 1965-the year in which he took control of the company.
“This type of economic behavior may be a concept of light startups, but it is a whimsical yellow light when it occurs on a distinguished column of the American industry,” said Buffett. “Berkshire was heading to the ash box.”
But in 2024, Berkshire paid 26.8 billion dollars – most of any American company in history and about 5 % of the total income taxes of US companies paid that year, Pavite said. He added that the company has now paid more than $ 101 billion in income tax for the United States Treasury.
Pavite urged the federal government to use funds to reduce poverty and warned officials against excessive spending or destabilizing the dollar.
“Spend it wisely,” he wrote. “Take care of many who, without error on their own, get a short straw in life. They deserve better. They never forget that we need to maintain a stable currency and this result requires wisdom and vigilance on your part.”
the Join billionaire He also said: “You can see paper money its value evaporates if financial foolishness prevailed. In some countries, this reckless practice has become usual, and in the history of our short country, the United States approached the edge. Protection against the fleeing currency.”
Jiko, stocks, and criticism
Berkshire CEO praised one of his deputies, Tod CombsTo revitalize GEICO since assuming the position of CEO of the insurance company in 2020.
JikoThe annual report of Burkshire showed on Saturday that the subscription profits before the tax increased the weakness last year to $ 7.8 billion. The auto insurance company obtained average higher installments for each policy, witnessed lower claim frequencies, and was more efficiently operated.
“Jiko was a long -awaited jewel that needed a great reformulation,” Buffett said, and he praised the results of last year as “amazing” while emphasizing that there is still a work to be done.
Todd Combs is the CEO of Geico, the insurance company owned by Berkshire Hathaway.
Angerer/Getty Images drawing
As a whole, the operating income of the Perkishire jumped by 27 % to 47.4 billion dollars last year, even with the profit of 53 % of the 189 operating companies.
Buffett and his team sold a net $ 6.7 billion of stocks in the last quarter. For the whole year, they bought 9.2 billion dollars of shares and sold $ 143 billion, which means that they have emptied $ 134 billion of shares on a clear basis.
They did not buy any Berkshire share in the fourth quarter. The re -processing of this year amounted to only $ 2.9 billion, compared to $ 9.2 billion in 2023 and 7.9 billion dollars in 2022.
Growth in operating profits, stock sales, and a lack of re -purchases led to an increase in the Berkshire Monetary Pack to $ 334 billion as of December 31 (or 321 billion dollars if you offer $ 12.8 billion of payments to buy treasury bills). This is twice nearly $ 168 billion of cash it carries at the end of 2023.
In his message, Buffett said Greg Abel, his planned successor as an executive president, “clearly showed his ability to act” when opportunities arise to dry deals.
Buffett has also confirmed that the vast Berkshire scale means that it may take a whole year to get out of its location in its stock portfolio. “We cannot come and go in ten cents,” he wrote.
Com joking “Oracle Omaha” joking about his lack of his ability in many other areas in addition to investing in wonderful companies.
“It lacks these origins such as sports excellence, a wonderful voice, medical or legal skills, or, in this regard, any special talents, I had to rely on stocks throughout my life,” he said.
