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Warren Buffett’s Berkshire Hathaway achieved a record-breaking year in 2024, with operating profit soaring by 27% to $47.44 billion driven by gains in insurance underwriting and investment income. The company’s fourth quarter saw a 71% jump in operating profit to $14.53 billion, with net income reaching $19.69 billion boosted by equity holdings. Berkshire paid $26.8 billion in taxes to the US government, making it the top corporate taxpayer, and Buffett revealed a portfolio shift with American Express now its largest holding. Buffett plans to deploy the company’s $334.2 billion cash reserve into equities, reaffirming his preference for stocks over bonds.
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