Berkshire Hathaway, the conglomerate headed by the nonagenarian investing legend Warren Buffett, had the second-largest profits among Fortune 500 companies, recording $90 billion in net income last year. Its shares rose by leaps and bounds, too, returning 23.2% in 2021 and rebounding from the COVID-related recession better than analysts had expected. Buffett credited the company’s results to factors including its insurance business, its stake in Apple, the performance of its BNSF railroad, and its energy operations. Berkshire’s P&C reinsurance business also grew in 2021, with premiums increasing by more than 6.4%, to $14.15 billion. The conglomerate made headlines after purchasing 14.7 million shares (a $1 billion stake) in controversial video game company Activision Blizzard at the end of 2021; Berkshire subsequently added more to its stake after Microsoft announced its intention to acquire the gamemaker.
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