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Warren Buffett revealed that he owns approximately $600 million in assets, not counting Berkshire Hathaway stock.
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The investor said his Berkshire A shares, worth $127 billion, represent 99.5% of his net worth.
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He likely keeps most of his remaining wealth in his private portfolio of stocks and bonds.
Warren Buffett just revealed that he has about $600 million in personal wealth outside of his Berkshire Hathaway shares.
The famed investor and CEO of Berkshire announced Friday that he has donated an additional $5.3 billion of his company’s stock to the Bill & Melinda Gates Foundation and four of his family’s foundations. He noted that the donations, based on their value when received, totaled about $55 billion over the past 18 years.
“I have no debt and my remaining A shares are worth approximately $127 billion, about 99½ percent of my net worth,” he added.
Buffett’s comment suggests that the remaining 0.5%, or about $600 million, of his fortune is tied up in other assets. The financial guru owns about $1 million in Berkshire’s cheaper B shares, and his Omaha home is worth an estimated $1.4 million.
Even if Buffett owns other physical assets worth a few million dollars, it seems likely that his private portfolio of stocks and bonds accounts for the bulk of his non-Berkshire wealth.
After all, he has personally owned at least $80 million worth of just three stocks — Wells Fargo, Walmart and Johnson & Johnson — in recent years, ProPublica reported last year, citing leaked Internal Revenue Service data (IRS).
Buffett also sold at least $466 million worth of stocks between 2000 and 2019, and offloaded bonds that were worth much more, according to ProPublica. The story pointed to a private portfolio worth hundreds of millions of dollars just a few years ago.
The investor’s latest hint supports that idea. It also helps explain how Buffett can afford to take just a $100,000 salary from Berkshire, and give half of that amount back to the company each year.
Buffett likely earns significant amounts of stock dividends and bond income from his personal assets, which means he doesn’t have to sell Berkshire stock to pay his bills.
Read the original article on Business Insider
