Shares in Berkshire Hathaway soared past $200,000 for the first time yesterday, as investors look beyond the star power of its founder Warren Buffett to the earnings power of the businesses he has assembled.
The investment guru’s refusal to split his conglomerate’s main stock, despite shareholder requests stretching back more than three decades, means Berkshire has the highest-priced shares traded in New York by a factor of 150.
Its value has risen 12 per cent this year, including a 6 per cent surge since the start of this month, following strong second-quarter results from its collection of industrial, insurance and utility businesses.