Warren Buffett's Berkshire Hathaway has cut its Wells Fargo. Its stake in Wells Fargo is now at a 17 year low. On Friday, Berkshire Hathaway said it owns 3.3% of the company, its slimmest ownership position since 2003. In 1994, Berkshire owned 13.3% of the bank. It held more than 500 million shares worth more than $27 billion in 2016. Buffett's company now holds fewer than 140 million shares, worth about $3.4 billion.
Regulatory filings show Warren Buffett's Berkshire Hathaway has sold about 101 million Wells Fargo shares in recent weeks. The billionaire investor's company cut its holdings by about 43% to 136 million shares, slashing its stake to 3.3%. The sales come after Berkshire sold 25% of its Wells Fargo position in the second quarter. Berkshire was previously Wells Fargo's largest shareholder. Business Insider reports that Wells Fargo was one of its five most valuable positions earlier this year.
Warren Buffett's Berkshire Hathaway saw the value of its Apple stock tumble as much as $19 billion in two days. On Thursday, Apple's stock price dropped 8%. On Friday, Apple dropped as much as 7%. That cut the value of Berkshire's roughly 981 million shares in the tech titan to below $110 billion. Berkshire has still more than tripled the value of its Apple investment, as it spent about $35 billion to build the 5.7% stake.
Warren Buffett's Berkshire Hathaway disclosed a $6 billion bet on five of Japan's biggest trading companies. The news was released Sunday night in a press release. The billionaire investor's company revealed that it owns just over 5% of Mitsubishi, Mitsui, Itochu, Marubeni, and Sumitomo. Business Insider reports that all five firms rose between 4% and 10% on Monday.
Prime Minister Narendra Modi attended inaugural function of Grand Challenges Annual Meeting 2020 via video-conferencing on October 18. Microsoft founder Bill Gates also interacted with PM Modi during the meet. During the virtual meeting, PM Modi said, "This meeting was to be held physically in India but in changed circumstances, it is being held virtually. Such is the power of technology that a global pandemic did not keep us apart. The future will be shaped by societies that invest in science and innovation. But, this cannot be done in a short-sighted manner. One has to invest in science and innovation well in advance. That is when we can reap benefits at the right time." He further said, "In India, we have a strong and vibrant scientific community. We also have good scientific institutions. They have been India's greatest assets, especially during the last few months, while fighting COVID-19. From containment to capacity building, they have achieved wonders. Today, we are seeing a decline in the number of cases per day and the growth rate of cases. India has one of the highest recovery rates of 88%. This happened because India was one of the first countries to adopt a flexible lockdown. India is now at forefront of vaccine development for COVID-19."
With the release of their foundation’s latest annual Goalkeepers Report, Bill and Melinda Gates are doing a lot of interviews and pushing one primary message: The U.S. is failing in its coronavirus response, and that represents a failure for the globe. That’s something we’ve heard from Bill Gates repeatedly since the… Read more...
(CNN) When Monica Gutierrez sent actor Ashton Kutcher a text and asked him to help her son's cross-country team get new shoes, she wasn't really expecting a response. After all, he's a celebrity with..