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Corona crisis costs US investor Buffett $ 50 billion
The | Reading time: 2 minutes.
America is currently the divided state
Fewer than 100,000 crown deaths – President Trump expects this number. There are currently more than 65,000 crown victims, and citizens of their country are arguing about a return to normal life.
American star investor Warren Buffet is also suffering from the crown crisis with a huge loss of billions. However, he makes an appeal for the strength of the United States. So why are you separating from some of your biggest companies?
DThe economic crisis resulting from the crown pandemic has caused American billionaire Warren Buffett to suffer significant losses. Its holding company Berkshire Hathaway reported a quarterly loss of nearly $ 50 billion on Saturday.
The company spoke of a “temporary” setback, but at the same time admitted to looking at uncertain times. It is unclear when standardization can be expected in the holding company’s various business areas. Due to the crown crisis, the Berkshire Hathaway shareholders meeting was held on Saturday as an online conference.
Buffett has assets of $ 72 billion, according to the American magazine Forbes. The 89-year-old star investor is the fourth-richest person in the world.
At the virtual shareholders meeting, Buffet also spoke about the strength of the United States in the crisis. The country will successfully face the crown crisis, he said. Nothing could stop the United States. He would always gamble in the United States for the rest of his life.
The United States has already mastered other bad crises like the Great Depression and the civil war. However, the coronavirus pandemic is an experiment with many possible economic consequences. Buffett has invested almost all of his assets in the investment company he built and managed, of which he is the largest shareholder.
One of the largest investors in the world.
Berkshire Hathaway participates in around 90 companies in a wide range of industries. The company owns shares in Apple, Coca-Cola, Wells Fargo and Bank of America banks, as well as tomato sauce maker Kraft Heinz.
Buffett has led Berkshire Hathaway since 1965 and has made the company one of the world’s largest investors with numerous high-return investments.
Despite its request for American strength, Berkshire Hathaway has sold all of its shares in the four largest US airlines. USA Berkshire Hathaway has sold its stakes in Delta Air Lines, United Airlines, Southwest Airlines and American Airlines, Buffett said Saturday.
His company had invested between seven and eight billion dollars in the construction of the shares. However, Berkshire Hathaway was unable to recover the amount of the sale, Buffett added.
The coronavirus pandemic hit the aviation industry hard. At the end of 2019, Berkshire Hathaway had 11 percent on Delta Air Lines, 10 percent on American Airlines, 9 percent on United Airlines, and about 10 percent on Southwest Airlines.
