Warren Buffett

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A Warren Buffett 'Mystery' Has Been Solved

His Berkshire Hathaway has scooped up a major stake in Chubb insurance giant, worth about $6.7B

(Newser) - Both CNN and the Wall Street Journal call it a "mystery" that's now been solved: Warren Buffett's Berkshire Hathaway has revealed a major stake that's been kept hush-hush since last year. The outlets report that the investment is in global insurance giant Chubb, and that Buffett'...

Buffett Discusses Losses, Future at Somber Meeting

Berkshire's first gathering since Charlie Munger's death includes succession details

(Newser) - Warren Buffett discussed investments, as usual, in his remarks to Berkshire Hathaway's annual shareholder meeting in Omaha on Saturday. But he also referenced another type of loss, as well as his own mortality, in the first gathering of the company's investors since the death last fall at 99...

Warren Buffett Passes the Baton on His Famed Lunch

The Glide Foundation will auction off a private lunch with Salesforce CEO Marc Benioff

(Newser) - The California homeless charity that received $53 million over the years from investors who wanted a private lunch with billionaire Warren Buffett has found a new business executive to auction off a meal with. The Glide Foundation said Tuesday that it will hold an auction on eBay next month for...

This Year, Buffett Credits His Sister and Charlie Munger
This Year, Buffett
Honors Munger

This Year, Buffett Honors Munger

Berkshire Hathaway chief tells investors not to expect difference-making acquisitions

(Newser) - Warren Buffett credited his longtime investing partner—the late Charlie Munger—with being the architect of the Berkshire Hathaway conglomerate he's received the credit for leading and warned shareholders in his annual letter Saturday not to listen to Wall Street pundits or financial advisors who urge them to trade...

Warren Buffett's Pocket-Emptying Earns Him a New Honor

He's No. 1 in 'Chronicle of Philanthropy' rankings of charity donations, with a $541.5M gift

(Newser) - The Chronicle of Philanthropy's annual list of the biggest charitable donations from individuals or their foundations totaled more than $3.5 billion in 2023. Four universities received big gifts in 2023, along with four scientific research institutes and a health care system. The other gifts went to a family...

Warren Buffett's Right-Hand Man Dies
Warren Buffett's
Longtime Sidekick Dies

Warren Buffett's Longtime Sidekick Dies

Charlie Munger was a month away from turning 100

(Newser) - Charlie Munger, who helped Warren Buffett build Berkshire Hathaway into an investment powerhouse, has died at a California hospital. He was 99. Berkshire Hathaway said in a statement that Munger's family told the company that he died Tuesday morning at the hospital just over a month before his 100th...

2 Men's Stock Moves Raise Eyebrows
2 Men's Stock Moves
Raise Eyebrows

2 Men's Stock Moves Raise Eyebrows

Michael Burry, Warren Buffett may be betting on a downturn

(Newser) - Do Michael Burry of Big Short fame and Warren Buffett see something we don't? That's the question CNN and others are asking based on SEC filings released Monday. In late June, Burry's Scion Asset Management fund purchased $866 million in put options against a fund that tracks...

Investment Book Fizzled in '91. Today, It's a Cult Classic

Copies of hedge fund manager Seth Klarman's 'Margin of Safety' sell for thousands

(Newser) - The relatively few people who shelled out $25 for a copy of Seth Klarman's investment book Margin of Safety in 1991 were actually making a wise investment at the time—they just didn't know it. As the Wall Street Journal reports, the book flopped, with only 5,000...

Buffett Rips Criticism of Buybacks
Buffett Rips
Criticism of

Buffett Rips Criticism of Buybacks

Berkshire Hathaway posts quarterly drop in operating profit

(Newser) - Operating earnings are the best way to assess profitability, Warren Buffett says. On Saturday, Berkshire Hathaway released results showing operating profit for the fourth quarter of 2022 was $6.7 billion, almost 8% off third-quarter earnings of $7.8 billion, CNN reports. All told, earnings fell 125% for a loss...

Hurricane Ian Hurts Results for Buffett's Berkshire

Berkshire Posts
Quarterly Loss

Berkshire Posts Quarterly Loss

Operating profits climb though results were hurt by rising fuel costs, Hurricane Ian

(Newser) - Despite a strong performance by its businesses in several sectors, Berkshire Hathaway posted a third-quarter loss on Saturday. Warren Buffett's conglomerate announced a net loss of $2.69 billion, the Wall Street Journal reports, following a $10.34 billion profit in the same period last year. Operating earnings, on...

Fall in Stock Prices Hurts Buffett, Too

$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...

Gates Plans $20B Infusion for Foundation

'The great crises of our time' require everyone to do more, co-founder says

(Newser) - Bill Gates sees a multitude of problems in the world that need to be addressed, so he's setting out a plan for his foundation to tackle many of them—and kicking in $20 billion this month to fund the effort. The co-founder of Microsoft issued a statement Wednesday saying...

Tab for Buffett's Last Charity Lunch: $19M

'It's been nothing but good,' Berkshire Hathaway chairman says of fundraiser

(Newser) - The cost of lunch with Warren Buffett has gone way up. An unidentified bidder won a sit-down with the Berkshire Hathaway chairman at a New York City steakhouse on eBay, for a record $19 million. The money goes to a charity, Glide, that provides meals, health care and legal aid...

Berkshire Invested $51B Last Quarter, Buffett Says

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...

Meet the 10 Richest People in the World

You know many of them already, including Elon Musk at No. 1, per 'Forbes' annual billionaires ranking

(Newser) - If Forbes is trying to make us feel bad for the world's billionaires, it's not really working. The magazine notes that, collectively, this group is now worth $400 billion less than they were a year ago, thanks to the ongoing pandemic, tepid markets, and war—but 1,000...

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...

Warren Buffett Resigns From Gates Foundation

The other two trustees are getting divorced

(Newser) - Warren Buffett resigned Wednesday as trustee of the Bill and Melinda Gates Foundation, which says it will announce plans in July to answer questions raised about its leadership structure as it deals with the divorce of its two founders . The announcement comes weeks after Bill and Melinda Gates revealed that...

ProPublica Gets Tax Details on the Richest of the Rich
ProPublica Gets Tax Details
on the Richest of the Rich

ProPublica Gets Tax Details on the Richest of the Rich

And finds that they pay a tiny fraction of their wealth in taxes

(Newser) - The richest Americans might complain about the federal government's tax bite, but an investigation by ProPublica reveals a compelling counterpoint. The very rich pay only a "tiny fraction" of their wealth in federal income taxes. And that's in stark contrast to Americans who live paycheck to paycheck,...

Buffett Clarifies Berkshire's Line of Succession
Buffett Makes

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...

Old Guard of Investing Snipes at Newcomer, Which Snipes Back
It's Warren Buffett
vs. Robinhood

It's Warren Buffett vs. Robinhood

Old guard of investing criticizes day trading company, which fires back

(Newser) - Warren Buffett and his Berkshire Hathaway lieutenant Charlie Munger have a combined age of 187. And they made clear over the weekend that they're not fans of day trading upstart Robinhood , which caters to millennials, reports CNBC . The company has "become a very significant part of the casino...

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