From 1965 to 2023, Berkshire Hathaway expanded its net earnings at a compound annual growth rate (CAGR) of 20% from $2 million to $96.2 billion. A $1,000 investment in the company on the day Buffett took the helm would be worth $2.48 million today. The same investment in the S&P 500 would only have grown to about $68,200.

Warren Buffett is celebrating the successes of Berkshire Hathaway’s companies last year and in the 60 years since he took over a struggling New England textile company and began converting it into a massive conglomerate.