Buffett’s Stocks Pass $100,000 a Share

October 6, 2006 at 6:54 pm (Companies, Economics, US)

From The New York Times

The most expensive stock in the United States passed an unusual plateau yesterday, as the price for a Class A share of Berkshire Hathaway Inc. briefly surpassed $100,000.

Shares in the company, run by Warren E. Buffett, closed up $1,296, or 1.3 percent, at $98,995 on volume of 830 shares, more than twice the average daily volume. During the session, shares reached $100,100 — a record high.
Berkshire Hathaway shares are not only expensive, they are also rare compared with those of other large publicly traded companies. At the end of June, there were 1.13 million of the more expensive Class A shares and 12.41 million of the Class B shares in existence.

The Class B shares, which are worth about one-thirtieth of the Class A shares, were first issued some years ago in part to give less wealthy investors a chance to benefit from the company’s consistently strong results.

But the Class B shares have since joined the rarefied ranks of highly expensive stocks, closing at $3,280 yesterday, up $30, or 0.9 percent.

Mr. Buffett owned 498,320 Class A shares as of May. He is the only person who owns more than 5 percent of the company’s shares.

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