Investor Warren Buffett has a whole lot to be thankful for this year because he is the highest paid person in 2016 according to Forbes Magazine.
Buffett’s Berkshire Hathaway stocks soared to a massive 20% gain in 2016, the billionaire’s fortune now stands at $12.3 billion. The stock market magnate made more money than every other USA billionaire in 2016. The second richest man in the world net worth is a massive $74.2 billion, he is second to only Bill Gates with a net worth of $84 billion.
Warren Buffet’s Oracle of Omaha is one of the most succesful company in the world making the self made billionare and its share holders overly ecstatic to be a part of this great company.
Mr. Buffett made most of his income this year after his holdings gained a whopping $7.8 billion after the November 2016 election. A well known Democrat Buffet was a strong supporter of the Democratic nominee: Hillary Clinton. While Clinton lost the election to Donald Trump in a landslide, the Oracle of Omaha saw a 3.6 billion dollar profit in just two days after the very heated mud-slinging general election.
While Buffet and the shareholders of Berkshire Hathaway should be overly excited it was a very bumpy ride for the company with a massive fine of $185 million by federal officials who claimed Berkshire’s shareholder Wells Fargo were defrauding millions of customers by opening fake accounts without any of the customer’s knowldege.
However, Berkshire Hathaway stocks shoots to the roof after the release of its third-quarter earnings report. The company’s earnings have increased more than 8% up from 2015. Many analsyst are charging Bershire’s good fortune to the Donald Trump’s election victory.
The US stock market had roared to an unprecedent high after the President-elect was elected as the next President of the United states of America. Notably, several other companies saw a hughe bump in income after the election. Amazon stocks soared to a new high along with Continental Resources and Sheldon Adelson who owns a camglamourate of gambling companies.