Many of Berkshire Hathaway's Holdings Have Exploded Higher Following Trump Win
In the run-up to the Presidential election in November, the Hillary Clinton campaign brought out two notable billionaires, Warren Buffett and Mark Cuban, to attempt to knock Donald Trump down a peg or two.
The primary purpose of Buffett and Cuban appearing at Hillary Clinton rallies? To try to dispel the notion of Donald Trump as a successful businessman. Both Cuban and Buffett went after Trump hard, though their efforts were ultimately unsuccessful.
Warren Buffett, who has said that the country should give Trump a chance as President, has done particularly well in the aftermath of President-elect Trump's victory.
There are certain sectors that have done very well since November 8th. The banking sector, in particular, has done extremely well, as many expect that banks will thrive under a Trump government that is against some of the harsher regulations that have weighed on the industry. Wells Fargo, Bank of America and Goldman Sachs, amongst others, have done very well over the past couple of weeks.
Berkshire Hathaway, with its massive positions in these companies, has predictably done extremely well over the same period of time. Shares of Berkshire Hathaway have increased by over 8% since Trump's win on November 8th. All told, with his Berkshire Hathaway and personal holdings, CNBC estimates that Warren Buffett has seen his net worth rise by approximately $11 billion since Donald Trump was declared the winner of the election.
While Warren Buffett may not have been happy about a Donald Trump victory as a self-professed Hillary Clinton supporter, there is no doubt that his wallet approves of the new President.
Filed under: General Knowledge