Markets

Billionaire investor Dan Loeb follows Warren Buffett and Marc Benioff into Snowflake

Billionaire hedge-fund manager Dan Loeb has joined Warren Buffett and Marc Benioff as a Snowflake shareholder. Loeb’s Third Point, which counts Amazon and Alibaba among its biggest holdings, revealed a position in Snowflake in its latest portfolio update. Buffett’s Berkshire Hathaway and Benioff’s Salesforce both purchased Snowflake stock in private […]
Billionaire investor Dan Loeb follows Warren Buffett and Marc Benioff into Snowflake
Markets

Trump accused Warren Buffett of taking ‘massive’ tax deductions in 2016. The future president paid just $750 in federal income tax that year.

President Trump claimed in 2016 that Warren Buffett had used past business losses to lower his federal income tax bill. The billionaire investor responded that he had paid federal income taxes every year since 1944, and charitable contributions and state income taxes accounted for the vast majority of his deductions. […]
Trump accused Warren Buffett of taking ‘massive’ tax deductions in 2016. The future president paid just $750 in federal income tax that year.
Markets

Silver Lake was labelled the ‘Warren Buffett of tech’ for investing billions during the pandemic. It’s emulating Buffett again with its new 25-year strategy

Silver Lake is launching a 25-year investment strategy, The Wall Street Journal reported on Tuesday. The private-equity giant is becoming even more like Warren Buffett with its longer investing timeframe. Silver Lake has invested billions of dollars in Twitter, Airbnb, Expedia, and other businesses during the pandemic, similar to how […]
Silver Lake was labelled the ‘Warren Buffett of tech’ for investing billions during the pandemic. It’s emulating Buffett again with its new 25-year strategy
Markets

Warren Buffett was blasted as ‘washed up’ for not buying during the coronavirus crash. Berkshire Hathaway has announced $19 billion of investments this quarter

Warren Buffett was fiercely criticised for not deploying Berkshire Hathaway’s vast cash reserves when markets tanked earlier this year. The billionaire investor and his team have responded by announcing over $US19 billion of investments in this quarter alone. Berkshire bought $US2.1 billion of Bank of America stock and $US735 million […]
Warren Buffett was blasted as ‘washed up’ for not buying during the coronavirus crash. Berkshire Hathaway has announced $19 billion of investments this quarter
Markets

Warren Buffett’s Berkshire Hathaway gets back to basics with $600 million Scripps deal after shock bets on Snowflake and Barrick Gold

Warren Buffett’s Berkshire Hathaway is set to invest $US600 million in Scripps to help fund its $US2.65 billion acquisition of ION Media. The billionaire investor’s company will receive preferred shares and a stock warrant in return, echoing Buffett’s past deals with Goldman Sachs, General Electric, Bank of America, Mars, and […]
Warren Buffett’s Berkshire Hathaway gets back to basics with $600 million Scripps deal after shock bets on Snowflake and Barrick Gold
Markets

Warren Buffett-backed acquisition deal spurs 74% surge in E.W. Scripps

Warren Buffett’s Berkshire Hathaway will make a $US600 million preferred equity investment in E.W. Scripps to help finance the television network company’s acquisition of ION Media. A combination of E.W. Scripps and ION Media will create a national TV network business that will reach more than 100 million households via […]
Warren Buffett-backed acquisition deal spurs 74% surge in E.W. Scripps
Markets

Warren Buffett’s Berkshire Hathaway plans to plow $570 million into Snowflake. Its last IPO bet has gained 110% in 2 years

Warren Buffett’s Berkshire Hathaway is set to bet roughly $US570 million on Snowflake when it goes public, despite the billionaire investor’s aversion to loss-making tech companies, high valuations, and IPOs. Buffett’s company may be backing Snowflake partly because its last IPO bet paid off. Berkshire invested $US340 million in Brazilian […]
Warren Buffett’s Berkshire Hathaway plans to plow $570 million into Snowflake. Its last IPO bet has gained 110% in 2 years
Markets

Warren Buffett’s Berkshire Hathaway slashes Wells Fargo stake by 43%

Warren Buffett’s Berkshire Hathaway has sold about 101 million Wells Fargo shares in recent weeks, a regulatory filing shows. 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 […]
Warren Buffett’s Berkshire Hathaway slashes Wells Fargo stake by 43%
Markets

Warren Buffett has $7 billion invested in 5 Japanese trading houses. Here’s a look at the ‘sogo shosha’

Summary List Placement Warren Buffett’s Berkshire Hathaway has built 5% stakes in Japan’s five biggest “sogo shosha” or general trading companies: Itochu, Marubeni, Mitsubishi, Mitsui, and Sumitomo. Their operations span multiple industries including mining, energy, food, aerospace, retail, real estate, finance, consulting, and logistics. Buffett may have backed them because […]
Warren Buffett has $7 billion invested in 5 Japanese trading houses. Here’s a look at the ‘sogo shosha’
Markets

Why Warren Buffett’s Berkshire Hathaway has a $7 billion bet on 5 Japanese stocks

Warren Buffett’s Berkshire Hathaway revealed 5% stakes in five Japanese trading houses on Sunday. The positions in Itochu, Marubeni, Mitsubishi, Mitsui, and Sumitomo were worth a combined $US6.9 billion as of Wednesday’s close. The billionaire investor was likely attracted by their depressed valuations and sprawling operations, and may have seen […]
Why Warren Buffett’s Berkshire Hathaway has a $7 billion bet on 5 Japanese stocks
Markets

Billionaire philanthropist Robert Smith, who paid off the student debts of an entire college class last year, is facing a criminal tax probe. Here’s a look at his charity work.

Billionaire philanthropist Robert Smith is being investigated by federal officials for potentially not paying taxes on about $US200 million of assets, according to Bloomberg. The Vista Equity Partners CEO hasn’t been charged and prosecutors may determine that he doesn’t owe any taxes, Bloomberg said. Smith’s philanthropy includes paying off $US34 […]
Billionaire philanthropist Robert Smith, who paid off the student debts of an entire college class last year, is facing a criminal tax probe. Here’s a look at his charity work.
Markets

Warren Buffett’s $113 billion Apple stake and $147 billion cash pile now account for over half of Berkshire Hathaway’s entire market value

Warren Buffett’s Berkshire Hathaway has Apple shares and cash worth 52% of its entire market capitalisation. The billionaire investor’s company owned $US113 billion in Apple stock and $US147 billion in cash at the last count, representing more than half of its $US499 billion market cap. Berkshire’s market value suggests the […]
Warren Buffett’s $113 billion Apple stake and $147 billion cash pile now account for over half of Berkshire Hathaway’s entire market value
Markets

Warren Buffett’s Berkshire Hathaway moves in the 2nd quarter reflect ‘caution in the current environment,’ Morgan Stanley says

Warren Buffett’s Berkshire Hathaway equity portfolio value increased about 15% in the second quarter, according to a Monday note by Morgan Stanley. The company’s new position in Barrick Gold is “potentially signalling caution given the uncertain macro environment,” said analysts led by Michael Phillips. In addition, “the company has largely […]
Warren Buffett’s Berkshire Hathaway moves in the 2nd quarter reflect ‘caution in the current environment,’ Morgan Stanley says
Markets

Warren Buffett slashes JPMorgan and Wells Fargo stakes, bets on Barrick Gold

Warren Buffett slashed his stakes in JPMorgan and Wells Fargo in the second quarter, a regulatory filing revealed on Thursday. The billionaire investor’s Berkshire Hathaway conglomerate also took a $US560 million stake in miner Barrick Gold. Buffett trimmed several other holdings including BNY Mellon, PNC Financial, and SiriusXM. The portfolio […]
Warren Buffett slashes JPMorgan and Wells Fargo stakes, bets on Barrick Gold
Markets

The strategist who called stocks ‘too big to fail’ says US wealth and income is dangerously tied to a market that’s at record valuations

Michael Kantrowitz, Cornerstone Macro chief investment strategist, told Bloomberg on Monday that the stock market is becoming a larger portion of the economy, and consumer wealth and income are “more leveraged than ever to the stock market.” The strategist also said because interest rates are so low, there’s few effective […]
The strategist who called stocks ‘too big to fail’ says US wealth and income is dangerously tied to a market that’s at record valuations
Markets

Pulling pranks, bidding for Yahoo, and launching a $1 billion basketball stunt: Rocket founder Dan Gilbert and Warren Buffett are close friends with a colourful past

Rocket Companies, which owns Quicken Loans, went public on Thursday, boosting founder and chairman Dan Gilbert’s fortune to about $US34 billion. Gilbert is close friends with Warren Buffett and has partnered with the investor and Berkshire Hathaway CEO several times over the years. For example, Gilbert and Buffett pranked Quicken […]
Pulling pranks, bidding for Yahoo, and launching a $1 billion basketball stunt: Rocket founder Dan Gilbert and Warren Buffett are close friends with a colourful past
Markets

Warren Buffett’s best-performing stock over the past 3 months isn’t Apple or Amazon. It’s a luxury furniture company.

Warren Buffett’s best-performing stock over the past three months isn’t Apple or Amazon. The billionaire investor and Berkshire Hathaway CEO’s biggest gainer is Restoration Hardware, a luxury-furniture seller whose shares have more than doubled in value since the start of May. Buffett’s second-best performer over the period is StoneCo, which […]
Warren Buffett’s best-performing stock over the past 3 months isn’t Apple or Amazon. It’s a luxury furniture company.
Lifestyle

Hundreds of billionaires pledged to give their fortunes away through Warren Buffett and Bill Gates’ Giving Pledge, but very little money may be actually helping people, according to a new study

Over 75% of the original signatories to Bill Gates and Warren Buffett’s Giving Pledge – a promise to give away the majority of their wealth – are richer now than they were when they signed in 2010, a new report by the progressive think tank Institute for Policy Studies (IPS) […]
Hundreds of billionaires pledged to give their fortunes away through Warren Buffett and Bill Gates’ Giving Pledge, but very little money may be actually helping people, according to a new study
Lifestyle

How long it took 11 of the world’s richest people to become billionaires

UK-based sports betting firm OLBG found that it takes the average self-made billionaire 21 years to join the three comma club after starting out, but some entrepreneurs get rich faster than others. eBay founder Pierre Omidyar became a billionaire faster than anyone else on the Forbes Billionaires List. Warren Buffett’s […]
How long it took 11 of the world’s richest people to become billionaires
Markets

Warren Buffett’s dealmaker closed the biggest ‘blank-check’ takeover ever this month. Here’s why he may owe the Berkshire Hathaway chief for the deal.

Warren Buffett’s dealmaker struck an $US11 billion deal to acquire MultiPlan this month, marking the biggest “blank-check” takeover to date. Former Citi banker Michael Klein got to know MultiPlan and its boss when he advised Buffett’s Berkshire Hathaway on a potential purchase of the healthcare group in 2013, the Financial […]
Warren Buffett’s dealmaker closed the biggest ‘blank-check’ takeover ever this month. Here’s why he may owe the Berkshire Hathaway chief for the deal.
Markets

Warren Buffett’s Berkshire Hathaway has shed $90 billion in market value this year. Only 4 US-listed companies have lost more.

Warren Buffett’s Berkshire Hathaway has lost more market value than all but four US public companies this year. The billionaire investor’s conglomerate has seen about $US90 billion wiped off its market capitalisation. Only JPMorgan, Wells Fargo, Bank of America, and Exxon Mobile have lost more, Roundhill Investments chief Will Hershey […]
Warren Buffett’s Berkshire Hathaway has shed $90 billion in market value this year. Only 4 US-listed companies have lost more.
Tech

Twitter says ‘social engineering’ led to the massive hack that targeted high-profile accounts like Barack Obama and Jeff Bezos. Here’s what the technique involves and how to avoid it.

Twitter on Wednesday experienced a massive security breach that allowed hackers to perpetuate a bitcoin scam from the accounts of some of the site’s most high-profile users, including Barack Obama, Jeff Bezos, and Bill Gates. The company said that the hack appears to be the result of a “coordinated social […]
Twitter says ‘social engineering’ led to the massive hack that targeted high-profile accounts like Barack Obama and Jeff Bezos. Here’s what the technique involves and how to avoid it.
News

What’s the point of Trump’s smear campaign against Fauci?

Hello, everyone! Welcome to the new edition of Insider Today. Please sign up here . QUOTE OF THE DAY “Wait. I can catch COVID twice?” – a patient of Dr. D. Clay Ackerly. In a Vox piece, Acklerly describes a case of reinfection, and the terrifying implications of it. WHAT’S […]
What’s the point of Trump’s smear campaign against Fauci?
Markets

Warren Buffett tumbles to his lowest ever position on the list of the world’s richest people after a $2.9 billion charity donation

Billionaire investor Warren Buffett donated $US2.9 billion worth of Class B shares in his Berkshire Hathaway charity this week, taking his total philanthropic contributions to $US37 billion in 14 years. The donation, however, has pushed him to his lowest ever position on Bloomberg’s widely cited Billionaires Index. Buffett was overtaken […]
Warren Buffett tumbles to his lowest ever position on the list of the world’s richest people after a $2.9 billion charity donation
Markets

‘It’s largely gonna go to waste and it distorts the market’: Billionaire investor Chamath Palihapitiya blasts the Fed and Treasury for spending billions to help companies instead of consumers

Billionaire venture capitalist Chamath Palihapitiya criticised US authorities for helping companies more than consumers in a Yahoo Finance interview on Tuesday. “We gave hundreds of billions of dollars in all kinds of random ways,” the Social Capital CEO and Virgin Galactic chairman said about the Federal Reserve and US Treasury’s […]
‘It’s largely gonna go to waste and it distorts the market’: Billionaire investor Chamath Palihapitiya blasts the Fed and Treasury for spending billions to help companies instead of consumers
Markets

‘If Buffett’s back in, it can’t be that bad’: Here’s what commentators are saying about Berkshire Hathaway’s $10 billion deal with Dominion Energy

Warren Buffett’s Berkshire Hathaway struck a $US10 billion deal to buy natural gas assets from Dominion Energy over the weekend. The agreement ends an unusually quiet period for the billionaire investor’s conglomerate. “If Buffett’s back in, it can’t be that bad,” BNY Mellon’s chief strategist Alicia Levine said on Bloomberg […]
‘If Buffett’s back in, it can’t be that bad’: Here’s what commentators are saying about Berkshire Hathaway’s $10 billion deal with Dominion Energy
Markets

Warren Buffett spent $6.5 billion to help Mars acquire Wrigley during the financial crisis. Here’s the story of how he made the candy deal happen.

Warren Buffett spent $US6.5 billion to help Mars acquire Wrigley during the financial crisis. The famed investor and Berkshire Hathaway CEO bought $US2.1 billion of Wrigley preferred stock paying a 5% annual dividend, and $US4.4 billion in bonds boasting an 11.45% interest rate. The merger was “completed without pause while, […]
Warren Buffett spent $6.5 billion to help Mars acquire Wrigley during the financial crisis. Here’s the story of how he made the candy deal happen.
Markets

Amateur investors speculating on stocks have pushed markets skywards, but angered some of investing’s biggest names. Here’s what they have to say about the day-trading boom.

Stocks have rallied sharply in recent months, thanks in part to a boom in day-traders, who invest in the markets for fun, rather than professionally. Dave Portnoy, founder of Barstool sports turned investor has become the poster-child of day-trading which has helped markets skyrocket, and fuel fears of an inflating […]
Amateur investors speculating on stocks have pushed markets skywards, but angered some of investing’s biggest names. Here’s what they have to say about the day-trading boom.
Markets

‘Our generation’s Berkshire Hathaway’: Billionaire investor Chamath Palihapitiya is modelling his firm on Warren Buffett’s company

Billionaire venture capitalist Chamath Palihapitiya is modelling his Social Capital firm on Warren Buffett’s company. “My ambition is to be our generation’s Berkshire Hathaway,” the Virgin Galactic chairman said in a recent Fortune interview. Palihapitiya expects to take Social Capital public and build a tech conglomerate. “It will be a […]
‘Our generation’s Berkshire Hathaway’: Billionaire investor Chamath Palihapitiya is modelling his firm on Warren Buffett’s company
Markets

The Fed bought debt in Warren Buffett’s Berkshire Hathaway, Coca-Cola, Walmart, and McDonald’s in its first spree of corporate bond-buying

The Federal Reserve spent $US428 million buying debt in individual companies in the first wave of its corporate bond-buying programme, data released Sunday showed. It bought the corporate bonds in households names such as Walmart, Coca-Cola, McDonald’s, and Warren Buffett’s Berkshire Hathaway, the data showed. The Fed spent $US5.7 million […]
The Fed bought debt in Warren Buffett’s Berkshire Hathaway, Coca-Cola, Walmart, and McDonald’s in its first spree of corporate bond-buying
Markets

Warren Buffett plowed $3 billion into General Electric during the financial crisis. Here’s the story of how he helped the industrial titan.

Warren Buffett plowed $US3 billion into General Electric during the financial crisis, when the industrials giant’s financing arm was suffering from the credit crunch. In exchange, Buffett received $US3 billion in preferred stock paying a 10% annual dividend, plus warrants to buy $US3 billion in common stock at a fixed […]
Warren Buffett plowed $3 billion into General Electric during the financial crisis. Here’s the story of how he helped the industrial titan.
Markets

‘We grow money a million times faster than Warren Buffett’: The SEC brought fraud charges against a pair of over-70s running a $30 million scheme that promised ridiculous returns to investors

Two men in their 70s told investors their sports-betting system could deliver far better returns than Warren Buffett, when in fact they were running a $US30 million fraud, the SEC alleged last August. “The King – Warren Buffett – takes more than six years to triple an investor’s funds,” Thomas […]
‘We grow money a million times faster than Warren Buffett’: The SEC brought fraud charges against a pair of over-70s running a $30 million scheme that promised ridiculous returns to investors