Berkshire Hathaway

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Fall in Stock Prices Hurts Buffett, Too


Berkshire
Hathaway
Posts
$43B Loss

Berkshire Hathaway Posts $43B Loss

Buffett's operation feels drop in stock prices

(Newser) - Berkshire Hathaway reported a $43.8 billion second-quarter loss on Saturday, largely driven by the drop in the stock prices of its biggest investments. In the same period last year, Warren Buffett's operation posted a profit of $28.1 billion, the Wall Street Journal reports. Still, Berkshire managed to...

Berkshire Invested $51B Last Quarter, Buffett Says


Berkshire
Shareholders
Receive Update
in Person
the rundown

Berkshire Shareholders Receive Update in Person

Buffett discusses new investments, inflation

(Newser) - Thousands of Berkshire Hathaway shareholders returned in person Saturday for their annual meeting heard Warren Buffett update them about investments and rail about the widespread harm inflation is doing. The pandemic had prevented the gathering in Omaha for the past two years. After earlier saying that inflation "swindles" equity...

Buybacks Pay Off for Buffett, Berkshire

Apple investment is working out, too, annual letter to shareholders says

(Newser) - Warren Buffett has made plenty of major acquisitions, but he told shareholders Saturday that he hasn't run across any exciting big deals lately. So he and Vice Chairman Charlie Munger have been putting Berkshire Hathaway's cash to use buying back company shares, he told shareholders in his annual...

Billionaire Plays Architect, and a Real Architect Quits
His Dorm Design Is Likened
to 'Psychological Experiment'
in case you missed it

His Dorm Design Is Likened to 'Psychological Experiment'

Billionaire Charlie Munger is paying for a largely windowless dorm on California coast at UCSB

(Newser) - It's good to be the king. Or if you have enough money, it might even be good to be the architect. However, one billionaire's foray into the field is generating all kinds of controversy in California. The unusual tale:
  • The billionaire: Charlie Munger, the 97-year-old right-hand man to
...

Buffett Clarifies Berkshire's Line of Succession
Buffett Makes
Successor
Known

Buffett Makes Successor Known

Greg Abel is next up to run Berkshire Hathaway, followed by Ajit Jain

(Newser) - Warren Buffett said Monday that he's chosen his successor from his vice chairmen, though he didn't say anything about retiring. Greg Abel, 58, who's already in charge of Berkshire Hathaway's noninsurance business, would become chief executive, CNBC reports. Next in line is Ajit Jain, 69, who...

Famed Investor Lists Concerns but Puts Money on America

Buffett: Progress in creating a more perfect nation often has been discouraging

(Newser) - Warren Buffett has been unusually quiet during the pandemic, but he's kept his annual appointment with his shareholders. The chairman and chief executive of Berkshire Hathaway released his closely watched assessment Saturday, Axios reports. On many fronts, Buffett expressed frustration in the letter . The nation still holds onto its...

Investor Makes $12B on Biggest Software IPO Ever
Investor Makes $12B on
Biggest Software IPO Ever
the rundown

Investor Makes $12B on Biggest Software IPO Ever

Snowflake has a massive debut

(Newser) - If you're hearing the word "snowflake" a lot today, it has nothing to do with politics. Snowflake the tech company is coming off the largest software IPO in history on Wednesday, reports CNN . The company priced its shares for the initial public offering at $120, but they opened...

Warren Buffett Allegedly Swindled Out of $703M
Warren Buffett
Allegedly Swindled
Out of $703M
in case you missed it

Warren Buffett Allegedly Swindled Out of $703M

German manufacturing company has been ordered to pay it back

(Newser) - Even the chairman and CEO of Berkshire Hathaway is apparently not immune to losing millions due to fraud. A German manufacturing company allegedly swindled Warren Buffett out of more than $703 million, the Guardian reports. A unit of Berkshire Hathaway paid more than $875 million for the family-run company, Wilhelm...

Female CEOs Just Made a Record Fortune 500 List

37 of the companies in the annual ranking are run by women—a record high

(Newser) - This year's Fortune 500 list is out, and the top 10 companies are the same ones that made it in 2019, with Walmart in the No. 1 spot for the eighth year in a row. The real story attracting buzz, though, is that 37 of the companies are led...

Warren Buffett Dumped All His Airline Stocks

To the tune of $4B amid pandemic fallout

(Newser) - More bad news for the airline industry: The Oracle of Omaha has jumped ship. Warren Buffett says that his Berkshire Hathaway has unloaded its airline stocks—to the tune of about $4 billion, reports CNBC . "The world has changed for the airlines," Buffett said during a much scaled-down...

Move Over, Buffett. There's a New No. 3 on Richest List

Mark Zuckerberg had a very good day on Friday

(Newser) - Facebook shares climbed 2.4% on Friday to a record $203.23, reports Bloomberg , a performance fine enough to vault founder Mark Zuckerberg past the vaunted Oracle of Omaha on the list of the world's richest people. The surge put Zuck at a net worth of $81.6 billion,...

3 Corporate Giants to Go After the 'Hungry Tapeworm'

Amazon, JPMorgan, Berkshire Hathaway will team up on health care

(Newser) - "The ballooning costs of health care act as a hungry tapeworm on the American economy," says Berkshire Hathaway CEO Warren Buffett, and he has teamed up with some equally huge names in an attempt to go after said tapeworm. Amazon.com, Berkshire Hathaway, and JPMorgan Chase on Tuesday...

Have a Cherry Coke, Get a Warren Buffett Smile

Billionaire's face is being used on Cherry Coke cans in China

(Newser) - Amazon's Jeff Bezos may have knocked Warren Buffett into third place on the world's richest people list, but only one of them has been deemed worthy of gracing Cherry Coke cans in China—and it's not Bezos. For a limited time, Coca-Cola is splashing Buffett's mug...

Buffett Has Bought $12B in Stocks Since Trump Win

He's now world's 2nd-richest man

(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...

2 Big Names Join Forces in Bid to Buy Yahoo

Quicken Loans founder/Cleveland Cavaliers owner Dan Gilbert and Warren Buffett

(Newser) - The second round of bidding for Yahoo is underway, and a couple of bidders are getting an outsize amount of attention: what the New York Times terms the "unusual" pairing of Quicken Loans founder/Cleveland Cavaliers owner Dan Gilbert and Warren Buffett. (Though maybe not so unusual: CNBC reports the...

Buffett: Candidates Wrong About the Economy

They're exaggerating how bad it is, he complains

(Newser) - The US economy is in better shape than the presidential candidates make it seem, investor Warren Buffett said Saturday. In his annual letter to Berkshire Hathaway shareholders, Buffett didn't name specific candidates or issues, but noted that the negative drumbeat about the economy, health care reform, and income inequality...

Fatal Crashes Are Surging; Buffett Says He Knows Why

It's not just about more cars on the road, he insists

(Newser) - If automobiles are constantly improving, why are traffic deaths going up? Warren Buffett thinks he knows. Fatal accidents surged 14% in the first half of the year, and one of the consequences of that is that Geico lost money and is now raising insurance premiums. Buffett's Berkshire Hathaway owns...

Investigation: Warren Buffett Firm Preys on Poor People

His mobile-home company traps buyers in pricey loans, says Seattle Times piece

(Newser) - Warren Buffett's image as an avuncular business genius who has all-American interests at heart might take a hit after a scathing investigation by the Seattle Times and the Center for Public Integrity . It alleges that Clayton Homes, a giant in the mobile-home industry owned by Buffett's Berkshire Hathaway,...

Heinz, Kraft to Become Food Giant

Merger will make them continent's No. 3 food and beverage company

(Newser) - News that might interest those whose favorite pantry staples are ketchup and mac and cheese: Kraft Foods Group Inc. and H.J. Heinz Co. have announced they will merge in a deal that will create the Kraft Heinz Co.—the third largest food and beverage company on the continent...

Is Buffett's Firm Dropping Hints About a Successor?

Annual online letter mentions 2 names

(Newser) - Warren Buffett released his annual letter to shareholders today, and the much-anticipated report has the usual good things to say about the future of his Berkshire Hathaway. But given that Buffett is 84 and has been in charge for 50 years now, business types are anxious to hear about a...

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