Buffett’s investment company, Berkshire Hathaway, recently released its Q2 2024 financial report, revealing that its cash reserves have reached $277 billion after reducing its holdings in Apple and other stocks. Its holdings of US Treasury bonds even exceed those of the Federal Reserve. Musk commented on this, saying that Buffett is almost equivalent to the Federal Reserve.
(Previous summary: Buffett’s latest brilliant move! Berkshire’s cash surpasses Ethereum’s market value, reviewing his 20-year record of successful exits)
(Background information: Buffett significantly reduced his stake in Apple, Berkshire holds $9 trillion in cash, breaking a new record, anticipating a decline in the US economy and early withdrawal of funds)
Warren Buffett’s investment company, Berkshire Hathaway, released its Q2 2024 financial report on August 3. The report shows that the company’s Q2 revenue was $93.653 billion, a year-on-year increase of 1.24%, surpassing market expectations of $85.92 billion. Its net profit was $30.35 billion, significantly higher than market expectations of $17.786 billion.
What has attracted market attention even more is that in this financial report, Berkshire Hathaway reduced its holdings of stocks such as Apple and Bank of America, cashing in a total of approximately $90 billion.
In response to this, a Key Opinion Leader (KOL) with over 700,000 followers on Twitter pointed out that after selling the stocks, Berkshire Hathaway currently holds cash reserves of $277 billion, which could be used to acquire Netflix, Salesforce, Toyota, Adobe, or Hermes:
Note: Out of Berkshire Hathaway’s $277 billion cash, $234.6 billion is in short-term US bonds, approaching the amount of US Treasury bonds held by Taiwan ($257.3 billion, ranked twelfth globally).
Elon Musk, the founder of Tesla, commented on Berkshire Hathaway’s astonishing financial report on the X platform, stating:
Furthermore, regarding Berkshire Hathaway’s holdings of US Treasury bonds exceeding that of the Federal Reserve, Musk also praised Buffett in another tweet:
Further reading:
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