Warren Buffett may have suffered paper losses of about $150 million from stakes in two global reinsurance giants, Swiss Re and Munich Re, because of the Japanese earthquake and tsunami.
Financial News calculated that Buffett is one of the “biggest investors to be affected by the earthquake,” because share prices of both insurers slumped in morning trading.
Berkshire Hathaway is the majority shareholder in Munich Re, and owns the fifth largest stake in Swiss Re.
BlackRock, also lost millions — about $108 million to be exact. The firm is the third largest investor in Swiss Re, and second largest in Munich Re.