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Berkshire Hathaway Hits Record $47.44B Profit Amid Wildfires

2/24/2025

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Summary

Story summary

Berkshire Hathaway achieved a record operating profit of $47.44 billion in 2024, marking a 27% increase for the third year.
Fourth-quarter operating profit soared 71% to $14.53 billion, fueled by robust insurance underwriting and investment income.
Cash reserves reached an all-time high of $334.2 billion, primarily from stock sales, including reduced Apple holdings.
The company opted against stock buybacks, reflecting confidence in current valuations.
Berkshire anticipates a $1.3 billion pre-tax loss due to recent wildfires in Los Angeles.

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Story summary

Berkshire Hathaway achieved a record operating profit of $47.44 billion in 2024, marking a 27% increase for the third year.
Fourth-quarter operating profit soared 71% to $14.53 billion, fueled by robust insurance underwriting and investment income.
Cash reserves reached an all-time high of $334.2 billion, primarily from stock sales, including reduced Apple holdings.
The company opted against stock buybacks, reflecting confidence in current valuations.
Berkshire anticipates a $1.3 billion pre-tax loss due to recent wildfires in Los Angeles.