:quality(75))
Should President-elect Donald Trump’s corporate tax policies proceed as planned, Berkshire Hathaway —owned by real estate mogul Warren Buffett—could see a $29B boost in its book value.
This is according to Barclays analyst Jay Gelb, who said in a statement to investors Monday that he foresees favorable increases for Berkshire’s shares with the prospect of lower taxes, Bloomberg reports. Since Trump’s victory, the multinational conglomerate’s shares have jumped 8%, thanks in large part to Buffett’s bank stocks that have increased in value due to rising interest rates.
Buffett, a supporter of Democrat Hillary Clinton, has long pursued tax-cutting avenues for Berkshire. Under Trump’s proposed tax plan, the corporate tax rate would fall from 35% to 15%. This would drop Berkshire’s value of liability by $29B, Jay said. [Bloomberg]
)
)
)
)
)
)
)
)
)
)
)
)