Buffett Has Bought $12B in Stocks Since Trump Win

He's now world's 2nd-richest man
By Rob Quinn,  Newser Staff
Posted Feb 1, 2017 2:29 AM CST
Berkshire Hathaway CEO Warren Buffett applauds at a Hillary Clinton rally in Omaha, Neb., last summer.   (AP Photo/Andrew Harnik, file)
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(Newser) – Warren Buffett didn't want Donald Trump to be president—but the Berkshire Hathaway chief didn't get rich by ignoring investment opportunities. In a recent interview with Charlie Rose, the billionaire revealed that his company has invested more than $12 billion in stocks since Trump won the election, more than it spent in the preceding three years, Reuters reports. Buffett owns an 18% stake in Berkshire, which is expected to disclose its stock buys in a mid-February filing. Fortune reports that with the help of the "Trump rally" in the markets, Buffett's net worth has risen by 9%, or $6.4 billion, since the election, making him the world's second-richest man. (Buffett, a Clinton supporter, said Trump had no excuse for not releasing his tax returns.)

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