Amazon.com CEO Jeff Bezos just spent $US250 million purchasing The Washington Post.
You may recall that Warren Buffett’s Berkshire Hathaway is the largest and among the longest-tenured shareholders in the Washington Post Company, which owns the paper along with a bunch of other stuff including test prep firm Kaplan.
So, what gains has he seen on the investment?
However, the stock has been on a tear, up 55% since the beginning of the year.
In after-hours trading, Washington Post Company is at $US598, which values Buffett’s 1.7 million shares at $US1.01 billion.
Assuming the $US11 million cost basis holds, that’s a whopping 9,080% return.
Meanwhile, the stock is up about 1.5% after hours Monday.