Warren Buffett：Berkshire 1995 Letter, Excerpt 1

Our gain in net worth during 1995 was $5.3 billion, or 45.0%. Per-share book value grew by a little less, 43.1%, because we paid stock for two acquisitions, increasing our shares outstanding by 1.3%. Over the last 31 years (that is, since present management took over) per-share book value has grown from $19 to $14,426, or at a rate of 23.6% compounded annually.

Source： https://www.berkshirehathaway.com/letters/1995.html
Locator：1995 Chairman's Letter, excerpt 1 · Verified：2026-10-19 · Verification：Short excerpt

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