Warren Buffett’s Berkshire Hathaway on Saturday said operating profit set a record in the fourth quarter and for the third straight calendar year, bolstered by improved underwriting and higher investment income in its insurance businesses.
Much of that income came from Berkshire’s enormous cash stake, which ended 2024 at a record $334.2 billion, twice as much as a year earlier.
In his annual letter to Berkshire shareholders, the 94-year-old Buffett assured that Berkshi