Warren Buffetts Berkshire Hathaway Posts Investment Loss Of $44 Billion

Despite the loss, Berkshire Hathaway earned an operating profit of $9.283 billion

Berkshire Hathaway, the conglomerate run by billionaire Warren Buffett, reported a loss of $43.8 billion in the second quarter of 2022. Despite this, Berkshire earned an operating profit of $9.283 billion.

That was achieved by offsetting new losses at the Geico car insurer, where parts shortages and rising used car prices increased accident claims, with gains from reinsurance and the BNSF railroad.

It represented an increase of 38.8 per cent from the same quarter a year prior. Profits from the conglomerate's numerous industries, including insurance, railroads, and utilities, are included in operational earnings.