Warren Buffett’s Latest Annual Letter to Berkshire Hathaway Shareholders Reveals That the Company Is Sitting on a $334B Cash Pile.

Everything you need to know about the contents of this legendary letter.

Every year at the same time, all investors wait for just one thing: the annual letter from Berkshire Hathaway. This legendary letter has been studied by all investors for decades now. The 2025 version has just been published.

As expected, Berkshire Hathaway's figures are breathtaking.

The Warren Buffett-led conglomerate reported that its operating profit - which encompasses the earnings of the company's 100%-owned businesses - soared by 71% to $14,527 billion in the last three months of 2024. This increase was driven by a spectacular 302% rise in insurance sales to $3,409 billion compared with the same period last year. Insurance investment income also climbed by almost 50% to $4,088 billion. Operating earnings also popped 27% for the full year, coming in at $47.437 billion.

Here's what Warren Buffett had to say in Berkshire Hathaway's annual letter:

“In 2024, Berkshire did better than I expected though 53% of our 189 operating businesses reported a decline in earnings. We were aided by a predictable large gain in investment income as Treasury Bill yields improved and we substantially increased our holdings of these highly-liquid short-term securities. Our insurance business also delivered a major increase in earnings, led by the performance of GEICO.”

But ultimately, what intrigues most is the mountain of cash on which Warren Buffett's company is sitting: Berkshire Hathaway ended 2024 with $334.2 billion in cash, up from $325.2 billion at the end of the third quarter. This fortress comes as Buffett struggles to find his next big investment target.