Berkshire Hathaway is owned by "God of shares" Warren Buffett.This year, it has made a profit of 8 billion US dollars from American Express shares, and the total income has reached nearly 25 billion US dollars since it began investing in the financial services company in 1994.
As of the end of last year, Berkshire held 152 million American Express shares. Since then, the stock has risen about 45%, increasing the value of Berkshire's stake to $26 billion from $18 billion at the start of the year.
American Express and Goldman SachsIt's Dow Jones this year.The two best-performing stocks in the index, but Berkshire pulled out of its investment in Goldman Sachs last year. American Express shares hit an all-time high after reporting better-than-expected second-quarter earnings late last month.
Buffett has invested a total of $1.3 billion in American Express since 1994 and has not adjusted his position since 1998. Today, American Express is one of Buffett's five largest holdings, and Buffett is the company's largest shareholder. Buffett has repeatedly stressed the value of the American Express brand, describing it as a key competitive advantage or "moat" against competitors.