Business

Warren Buffett's Berkshire Hathaway shares top $200,000

Warren Buffett w/ little boy Image copyright Getty Images
Image caption Mr Buffett is often referred to as the "oracle of Omaha", in reference to his hometown and business acumen

Shares in Warren Buffett's Berkshire Hathaway have surpassed $200,000 (£120,000) for the first time.

That values the firm - which has added over 70 companies since Mr Buffett took it over in the 1960s - at an estimated $326bn.

The company's shares have long been the most expensive stock in the US.

Mr Buffett has never split the company's class A shares, although there are cheaper class B shares that are priced at $134 per share.

On Thursday, shares in Mr Buffett's company rose $3,241, or 2%, to end at $202,850.

The price of Berkshire Hathaway's class A shares are more than 60 times the next most expensive stock listed on US exchanges - that of Seabord Corporation, a transportation and agriculture firm.

Mr Buffett has become a legend for the performance of Berkshire, earning him an army of followers in the private investor community.

Berkshire has a large number of majority and minority investments in dozens of companies, ranging from small jewellery and furniture retailers to insurance giants Geico and General Re, chemicals group Lubrizol, Coca-Cola, IBM, American Express, Wells Fargo Bank and dozens of others.

Berkshire's long-term gains have made Mr Buffett the world's third wealthiest man, with a fortune of $65.9bn, according to Forbes magazine.

Earlier in August, Berkshire Hathaway reported second-quarter earnings of $6.4bn,

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