Buffett’s Berkshire Hathaway falls to 5-1/2-yr low

Shares of Warren Buffett’s Berkshire Hathaway Inc sank to their lowest level in 5-1/2 years amid concern the insurance and investment company could suffer big losses from bets on world stock markets and US banks. Buffett was ranked by Forbes as the richest person in the world during the first half of 2008, with an estimated net worth of $62.0 billion. In June 2006, Buffett gave approximately 10 million Berkshire Hathaway Class B shares to the Bill & Melinda Gates Foundation (worth approximately USD 30.7 billion as of 23rd June 2006) making it the largest charitable donation in history.