Warren Buffett：Berkshire Hathaway 1987 Letter, Additional Excerpt 1

Our gain in net worth during 1987 was $464 million, or 19.5%. Over the last 23 years (that is, since present management took over), our per-share book value has grown from $19.46 to $2,477.47, or at a rate of 23.1% compounded annually.

Source： https://www.berkshirehathaway.com/letters/1987.html
Locator：1987 Chairman's Letter, additional excerpt 1 · Verified：2026-10-19 · Verification：Short excerpt

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