Billionaire Warren Buffett’s Berkshire Hathaway Inc. lose US $ 43.80 billion

Business Desk (The HeadQuarters News) – Billionaire Warren Buffett’s Berkshire Hathaway Inc. (BRKa.N) became a serious victim of the current slide in U.S. stock prices as by Saturday 6th August the Berkshire Hathaway reported a massive loss of  US $43.80 billion.

Business analysts say that that though having faced the massive loss the foundations of the Berkshire Hathaway Inc.  are strong , the company is resilient and in an other segment it generated nearly US $9.30 billion of operating profit in terms of gains from reinsurance and the BNSF railroad offset fresh losses at the Geico car insurer, where parts shortages and higher used vehicle prices boosted accident claims.

Insurance businesses in US are benefitting largely from the rising interest rates while the strengthening of U.S. dollar against major global currencies has significantly increased US profits from debt investments abroad and also having increased the US dollars purchase power.

Berkshire Hathaway Inc. after declaring the massive loss still have US $105.40 billion in cash but is holding the cash instead of making new investments the move which other major investors are closely watching so as to decide their own business moves.