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Buffett's Birthday Gift: Berkshire Tops $1T Market Value, Eyes 7-Game Win Streak

Tiger Newspress08-30

Warren Buffett turned 94 on Friday and his sprawling, one-of-a-kind conglomerate has never been worth more than it is today.

Berkshire Hathaway became the first non-technology company to top a $1 trillion market capitalization this week. Berkshire Class A shares also topped $700,000 apiece for the first time ever.

Berkshire Hathaway's stock is heading towards a 7-game winning streak.

On this day in 1930, Warren Edward Buffett was born in Omaha, Neb., to stockbroker Howard Buffett and homemaker Leila Stahl Buffett.

Forbes estimates Buffett is the sixth-richest person on earth, with a $147 billion fortune, despite giving away tens of billions of dollars.

Most of the investor's vast fortune was attained after he hit his mid-60s, says the author Morgan Housel. But, Housel notes, that actually reflects the power of compounding returns over the long term, since Buffett started investing when he was still a child.

Earlier this year, Buffett told The Wall Street Journal that after his death nearly all of his remaining wealth will go to a new charitable trust overseen by his daughter and two sons.

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JengChien
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