NEW YORK -- Shares in U.S. investment star Warren Buffett's Berkshire Hathaway group topped $200,000 apiece for the first time Thursday, less than eight years after breaking the $100,000 barrier.
Already the priciest on U.S. markets, Berkshire shares got even more expensive for investors in a 7.5% climb since the company announced record quarterly earnings at the start of August.
In midday trade, Berkshire A shares were up $2,495.64, or 1.3%, to $202,104.64.
Buffett has become a legend for the performance of Berkshire, which has a large number of majority and minority investments in everything from small jewelry and furniture retailers to insurance giants Geico and General Re, chemicals group Lubrizol, Coca-Cola (IW 500/28) (KO), IBM (IW 500/11) (IBM), American Express, Wells Fargo Bank and dozens of others.
The company's long-term gains have made Buffett the world's third wealthiest man, his fortune worth $65.9 billion, according to Forbes magazine.
After crossing the $100,000 line in October 2006, Berkshire shares have easily outperformed gauges like the S&P 500 broad-market index, up only 43% since then, further burnishing Buffett's star as the "Oracle of Omaha," the Nebraska city where he lives.
Analyst Regrets Missing the Boat
S&P Dow Jones index analyst Howard Silverblatt rued not having bought Berkshire shares early on.
"Warren has returned 22.6% per year compounded since it crossed $100 in May 1977—the month I started at S&P," Silverblatt said. "I should have indexed my pay check against it; [I] would be making almost half-a-million dollars a week."
But the company's future remains under a huge question mark regarding who will replace Buffett, 83. He has not said when he will retire but regularly says a solid succession plan has been mapped out.
To make the shares more accessible to small investors, Berkshire created a second class in 1996 when the A shares rose to around $33,000 each. The B shares, labeled "Baby Berkshires" at the time, went out at just $1,000.
Eventually they grew out of reach of small market players, and underwent a 50-to-1 split in 2010, a move also made to help the company finalize its takeover of Burlington Northern Santa Fe railroad.
On Thursday the B shares were up 1.3% to $134.79.
Copyright Agence France-Presse, 2014