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DStar investor Warren Buffett believes the United States will successfully overcome the crown crisis. Nothing can stop the United States, the 89-year-old billionaire said Saturday at the general meeting of his investment company Berkshire Hathaway. He would always gamble in the United States for the rest of his life. Americans have 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. 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.
Following the crown pandemic, Berkshire sold all of its shares in the four largest US airlines. Berkshire has sold its stakes in Delta Air Lines, United Airlines, Southwest Airlines and American Airlines, Buffett said at the general meeting on Saturday. His company had invested between seven and eight billion dollars in the construction of the shares. However, Berkshire 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 had 11 percent on Delta Air Lines, 10 percent on American Airlines, 9 percent on United Airlines, and about 10 percent on Southwest Airlines. Buffett has led Berkshire Hathaway since 1965 and has made the company one of the world’s largest investors with numerous high-return investments.
