Warren Buffett's Berkshire reveals $900 mn Amazon stake

Thursday, 16 May 2019, 10:53 Hrs
22
cmt right
35
Comment Right
32
cmt right
7
cmt right
Printer Print Email Email
Warren Buffett's Berkshire reveals $900 mn Amazon stake


Warren Buffett's Berkshire Hathaway had shares worth $904 million in e-commerce giant Amazon at the end of March 31, the media reported citing a regulatory filing.

According to a report in CNBC on Thursday, a filing at the US Securities and Exchange Commission revealed that Berkshire's stake in Amazon was 483,300 shares at March-end.

The stake represents just about 0.1 per cent of Amazon's outstanding equity, the report said.

Buffett first disclosed the new investment in Amazon to CNBC earlier this month.

He said that someone at Berkshire's asset management desk just invested in some Amazon shares but "it wasn't me."

"One of the fellows in the office that manage money ... bought some Amazon," Buffett was quoted as saying.

The stake in Amazon is a first for the investment conglomerate. Buffett has repeatedly praised Amazon and its CEO Jeff Bezos in the past.

"The truth is that I've watched Amazon from the start and I think what Jeff Bezos has done is something close to a miracle, and the problem is if I think something is going to be a miracle I tend not to bet on it," Buffett said.

Last year, Berkshire, Amazon and JPMorgan Chase unveiled a joint venture to improve healthcare for their employees.

Berkshire Hathaway owns about 250 million shares of tech giant Apple.

Read more news:

Knowing the Unknown - Formula 1 



5 Classic Video Games that Bring Back the Kid in You


Source: IANS
SPOTLIGHT
Startup City
Youth are leading India's start-up ecosystem where the median age of founder-entrepreneurs..
US Indian
Facebook-owned photo messaging app Instagram has launched the beta version of its in-app sh..
Entertainment
"Game of Thrones" author George R.R. Martin doesn't want season eight to be the final chapter of "..
Technology
Facebook-owned messaging app WhatsApp is still developing its previously announced "Vacatio..
Enterprise IT
Taking on streaming giants like Netflix and Hulu, Walt Disney Co. has announced it will laun..
Gadgets
Google Pixel and OnePlus smartphones are catching up and giving stiff competition to Samsu..
Finance
The Reserve Bank of India injected a total liquidity of Rs 2.98 lakh crore in the market in 20..
Business
The Pentagon has selected Microsoft and Amazon Web Services (AWS, the cloud computing arm ..
Career
Wiley, a global leader in research and education has announced a series of blended learning progr..