As a result, Warren E. Buffett's net worth topped $70 billion. Berkshire Hathaway's biggest holdings include Wells Fargo, IBM, American Express, U.S. Bancorp, Goldman Sachs, US Corp. and General Motors.
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A strong opponent of Trump's controversial policies on overseas trade and NAFTA, Buffett made little secret of his dislike for the real estate tycoon. (Trump won Buffett's home-state Nebraska.) Shares of BerKshire were roughly flat Tuesday.
So far, equity markets have reacted favorably to Trump's election, despite concerns during the election about some of his positions.
Goldman Sachs, in which Berkshire held 10,959,519 shares as per CNBC data, sprinted nearly 16% in the past 5 days. Wells Fargo made huge gains, as well. American Express also saw solid growth over the same period.
Berkshire Hathaway reported higher third quarter operating earnings and revenues.
To be sure, the company also reported 24% lower net income year-over-year (Y/Y), a result of lower investment gains over the quarter.
But the recent market upswing helped the stock recover some of its losses.
Moreover, planned moves by the Trump administration should bolster Berkshire.
Trump plans to invest $550 billion on infrastructure, including roads, highways, bridges, tunnels, airports, and more railways.
Berkshire's BNSF railroad, which has suffered because of declining coal shipments, could rebound if Trump fulfills his promise to ease limits on carbon emissions and boost mining. Trump's intent to expand drilling should help oil and gas companies, including oil pipeline operator and Berkshire holding Kinder Morgan.
Berkshire's tech-holdings such as Apple and IBM have been quiet in the past week. Repatriation, on the other hand, could mount a strong rally.
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There has often been talk of how tech-majors like Apple prefer to keep bulk capital overseas, because the U.S. does not tax foreign holdings, as long as the money is outside the U.S. If the money is returned to the U.S., the taxation rate is around 35%; Trump's mentioned that he could bring that number all the way down to 10%, or lower corporate taxes to a more "balanced" level. The savings thus accrued would boost Berkshire's tech stock holdings.
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