Warren Buffett Warns of Betting Against America, Still Believes in the American Dream

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Warren Buffett CEO of Berkshire Hathaway
Warren Buffett CEO of Berkshire Hathaway

Warren Buffett, billionaire and CEO of Berkshire Hathaway is one of the few billionaires still believing in the American dream. He said in his annual shareholder letter “never bet against America.”

“In its brief 232 years of existence … there has been no incubator for unleashing human potential like America. Despite some severe interruptions, our country’s economic progress has been breathtaking. Our unwavering conclusion: Never bet against America.” Buffett wrote in the letter.

His conglomerate, Berkshire Hathaway, owns the largest value of U.S. assets in property, plant, and equipment. This comparison comes from analysis of other US companies with similar portfolios.
“Berkshire’s depreciated cost of these domestic ‘fixed assets’ is $154 billion. Next in line on this list is AT&T, with property, plant, and equipment of $127 billion,” he wrote.

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The legendary investor noted that his two owned American companies — Berkshire Hathaway Energy and BNSF Railway — earned $8.3 billion in 2020 although the demand plummeted due to the Covid-19 pandemic.