Star investor Warren Buffett has invested with his investment company Berkshire Hathaway on a grand scale at the largest US bank JPMorgan Chase. In the third quarter, the 88-year-old stock market guru’s investment holding company bought more than 35 million shares in the money house and thus built up a stake worth around four billion dollars, which is the equivalent of around 3.55 billion euros. That comes from a communication to the US Securities and Exchange Commission on Wednesday (local time).
Buffett is already relying heavily on US banks and financial service providers: The stake in Bank of America also grew strongly in the past quarter, and Berkshire Hathaway also increased its shares at Goldman Sachs, US Bancorp and Bank of New York Mellon and acquired a stake in PNC Financial Services .
Major shareholder Buffett and JPMorgan boss Jamie Dimon have been friends for a long time, and their companies are also running a joint health insurance project with Amazon.
Sources used: dpa news agency
Who should come after Warren Buffett? The investor was asked this question frequently at a shareholders’ meeting. The entrepreneur made a few hints.
The US billionaire Warren Buffett gave a hint on Saturday of a possible successor at the top of his holding company Berkshire Hathaway.
At the shareholders’ meeting in his hometown of Omaha in the US state of Nebraska, the 88-year-old star investor was repeatedly asked about his successor. Buffett did not answer directly, but highly praised managers Gregory Abel and Ajit Jain.
“You can’t have better managers than Greg and Ajit. What they’ve achieved is just amazing,” says Buffett. Both would shortly join him and his longtime business partner Charlie Munger to answer questions from shareholders.
Buffett and 95-year-old Munger have starred at Berkshire Hathaway’s shareholder meetings for decades, but Jain was also allowed to answer questions from shareholders on Saturday – albeit from the audience rather than on stage.
Abel, 57, and Jain, 10, have served on the Berkshire Hathaway Board of Directors since January 2018. Abel has worked for the holding company’s energy division since 1992 and has overseen all areas except the insurance division for more than a year. This is currently headed by Jain, who has been with Berkshire Hathaway since 1986.
Munger continued to put the shareholders under suspicion: “One of the reasons we have problems with these questions is that Berkshire is different.” Decisions are not made in a bureaucratic way. “That’s why they have to be patient,” says the 95-year-old.
Saying goodbye to Buffett would herald a new era for the holding company. Their share value is considered ten to 15 percent too high just because of his presence at the top of the group. Some experts believe that Berkshire Hathaway could be split up without Buffett.
Last year, Berkshire Hathaway posted net income of $ 21.66 billion – not including the expected losses from its stake in Kraft Heinz. The US food giant recently made billions in write-offs on some of its best-known brands.
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Berkshire Hathaway holds significant stakes in the computer company Apple, financial groups such as American Express, Goldman Sachs and JPMorgan Chase and is also active in the insurance, rail and energy industries.123helpme.me
Sources used: AFP news agency
The corona numbers are also rising steadily in Italy. The government therefore wants to take stricter measures. The situation is deteriorating particularly in individual regions, including Tuscany.
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Because of the worsening Corona situation, Italy wants to impose stricter restrictions in some parts of the country. The Liguria region in the north-west and Abruzzo in central Italy are to be declared orange zones on Wednesday, as the presidents there wrote on Twitter. According to the mayor of Florence, Dario Nardella, the popular holiday region of Tuscany should also fall into this category. The Ansa news agency also named Basilicata and Umbria as other candidates.
The country with around 60 million inhabitants is divided into three corona zones, with the strictest measures in the red zones. Orange is the medium level and yellow is the lowest level. In orange areas, restaurants and bars have to be closed all day. It is also forbidden to move between different regions and municipalities. Exceptions apply to driving to work or traveling for health reasons.
Health ministry experts are in favor of even stricter restrictions. “The epidemiological situation continues to deteriorate in our country,” said expert Giovanni Rezza. That justifies more restrictive interventions, especially for the badly affected regions. Between October 19 and November 1, there were an average of slightly more than 500 corona cases for every 100,000 people. In the period from October 15 to 28, each infected person infected an average of 1.7 other people. The comparison with German figures is difficult because of the different survey periods.
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On Monday, the health authorities reported almost 25,300 new corona infections and 356 deaths within 24 hours. The number of new infections is often lower on Mondays due to fewer test capacities at the weekend. On Saturday, the authorities had reported just over 39,800 cases.
Sources used: dpa news agency
US investor legend Warren Buffett has doubled his stake in Ratiopharm mother Teva. He is also now Apple’s second largest owner.
Warren Buffett’s private equity firm Berkshire Hathaway announced Tuesday that it now holds 40.5 million ADRs from the Israeli generic drug maker, valued at $ 693 million. A large part of the investments of 14.8 billion dollars in the first quarter flowed into Apple. Berkshire now has 240 million Apple shares valued at more than $ 40 billion, making it the second largest shareholder in the iPhone and iPad maker after the Vanguard Group, according to Reuters data.
Berkshire sold all of the shares in the Graham Holdings publishing house, which previously owned the Washington Post. Buffett got on there in the 1970s. For many years he was friends with the editor Katharine Graham, who died in 2001. The newspaper was sold to Amazon founder Jeff Bezos in 2013. Berkshire still owns 32 daily newspapers.
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Berkshire also increased its stakes in Delta, Monsanto, Bank of New York Mellon and US Bancorp. Buffett reduced his stakes in United Continental and Wells Fargo, among others.
Sources used: Reuters
US investor Warren Buffett can post billions in profits through the tax reform of US President Donald Trump. Berkshire Hathaway Holding owns shares in Apple and Coca Cola, among others.
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US President Donald Trump’s tax reform, which primarily relieves companies, has also benefited the Berkshire Hathaway holding owned by investor Warren Buffett. As the multibillionaire now announced in his annual letter to the shareholders, he received a check from the government for 29 billion dollars (23.6 billion euros) last year. Buffett put the net profit of all investments in his company in 2017 at $ 65.3 billion.
Much of it did not come from the activities of his holding, wrote Buffett. “Only $ 36 billion came from Berkshire operations.” The remaining 29 billion dollars are the refunds from the US Treasury after the US Congress approved the tax reform in December. The corresponding law lowered the corporate tax from 35 to 21 percent.
Berkshire Hathaway holds significant shares in the beverage giant Coca Cola, the computer company Apple, the financial services provider Wells Fargo, Delta Airlines, American Express and in Bank of America, among others. Net income increased from $ 24.07 billion in 2016 to $ 44.94 billion in 2017.
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At the same time, the company’s assets continued to grow. At the end of 2017, it had $ 116 billion in cash and US Treasuries. Buffett says he wants to make significant new purchases with it.
Sources used: AFP
Amazon boss Jeff Bezos is getting richer, but Facebook founder Mark Zuckerberg’s fortune is melting. That comes from the billionaire ranking of the magazine “Forbes”.
Amazon boss Jeff Bezos has cemented his status as the richest man in the world. The US magazine “Forbes” put the 55-year-old’s fortune at 131 billion dollars (116 billion euros) on Tuesday. This is another 19 billion euros more than a year earlier. With that, Bezos extended his lead over runner-up Bill Gates.
Bezos’ fortune could, however, shrink significantly in the future due to the announced divorce from his long-time wife MacKenzie. There is speculation in the US media that this could become the most expensive divorce in history.
Microsoft founder Gates was able to increase his fortune from 90 to 96.5 billion dollars according to “Forbes” and thus defend his second place in the ranking. US investor Warren Buffett is still in third place with $ 82.5 billion. He is followed by the head of the French luxury goods company LVMH, Bernard Arnault, with 76 billion dollars.
Facebook founder Zuckerberg: In the new “Forbes” ranking he lost places. (Source: IP3press)
Things went less well for Facebook boss Mark Zuckerberg, whose fortune shrank by nine billion dollars to 62.3 billion dollars. He fell back from fifth to eighth place.
The Spanish fashion entrepreneur Amancio Ortega, the Mexican media tycoon Carlos Slim and the founder of the US software company Oracle, Larry Ellison, occupy the places in front of Zuckerberg. Former New York City Mayor Michael Bloomberg moved up two places and is now the ninth richest person in the world on the Forbes list.
According to the magazine, 14 of the world’s 20 richest people are from the United States. Two entrepreneurs from Asia also made it into the top 20. Indian Mukesh Ambani, head of the conglomerate Reliance Industries, is in 13th place. Ma Huateng, who heads internet giant Tencent, is ranked 20th.
According to Forbes, nine places among the 100 richest people in the world are occupied by Germans. The Aldi heirs Karl Albrecht junior and Beate Heister, who together occupy 23rd place, are the highest of them. Their assets are put at a total of 36.1 billion dollars (32 billion euros). Dieter Schwarz, the owner of Kaufland and Lidl, ranks 36th with $ 22.6 billion. As the richest woman in Germany, entrepreneur and BMW heiress Susanne Klatten ranked 46th with 21 billion dollars.
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US President Donald Trump gained 51 places in the “Forbes” list and climbed to 715th place. However, his estimated asset remained unchanged at $ 3.1 billion. Trump owed his rise on the list to the fact that the fortunes of other super-rich were dwindling. According to Forbes, Trump’s nine skyscrapers alone account for half of his wealth.
Sources used: AFP news agency
US star investor Warren Buffett has issued a warning against Bitcoin and other digital currencies.
“I can say with a fair degree of certainty that they will come to a bad end,” said the 87-year-old stock market guru on the US broadcaster CNBC. He couldn’t say when it would come. According to his own statements, Buffett has not yet actively speculated on a crash with his investment company Berkshire Hathaway.
When asked whether he was betting against cryptocurrencies with so-called futures, Buffett said no. However, he would bet on price declines with long-term option deals – over a period of about five years if this were possible. However, Buffett openly admitted that he was not particularly familiar with Bitcoin and Co. “But I think what’s going on right now will definitely end badly,” said the investor legend.
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Source: – dpa
Warren Buffett donated over $ 3 billion to five organizations. The US investor legend is one of the richest people in the world.
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