Berkshire Hathaway

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Market Meltdown Reshapes Forbes Rich List

Buffett bumps Gates in redrawn rankings of world's wealthiest

(Newser) - The mortgage meltdown has certainly hit middle-class Americans hard but hasn't spared the uber-wealthy, Bloomberg reports. Las Vegas Sands CEO Sheldon Adelson’s net worth shed $4 billion between Aug. 29 and Oct. 1, for instance, while Warren Buffett overtook Bill Gates, whose net worth declined $1.5 billion, as...

Buffett Gains Big Say on Nuclear Power

New deal gives longtime skeptic clout about industry's future

(Newser) - Warren Buffett’s $4.7 billion agreement to rescue Constellation Energy Group this week netted the billionaire investor more than just a utility. Buffett now will have a big say in the future of nuclear power in the US, the Wall Street Journal reports. He has long been skeptical of...

Goldman Raises $10B After Buffett's Buy-in

New stock offering nets twice as much as bank expected

(Newser) - Where Warren Buffett goes, investors follow. Goldman’s new stock offering pulled in $5 billion this morning, twice the $2.5 billion the firm expected, as investors followed Buffett’s lead, Bloomberg reports. That extra money, combined with Buffett’s $5 billion investment, “should quickly end credit-market debate about...

Buffett Invests $5B in Goldman
 Buffett Invests $5B in Goldman 
Sep 23, 2008 5:31 PM CDT

Buffett Invests $5B in Goldman

(Newser) - Warren Buffett is betting $5 billion on the future of Goldman Sachs, the Financial Times reports. The move by one of the world's savviest investors is one of the biggest signs of confidence in the financial system since the current turmoil began, the Wall Street Journal notes. Goldman, which this...

Buffett Strikes as Investors Flee; Buys Energy Firm

In his first move of the current market crisis, the Oracle collects more energy

(Newser) - Warren Buffett swooped in yesterday with one of his patented moves, his first during the current market turmoil. He purchased Constellation Energy Group, Baltimore’s large hometown energy supplier, after its stock plummeted by 60 percent since Monday, the Sun reports. As investors fled the company, Buffett saw opportunity, adding...

Dow Chemical Drops $15.3B on Rohm & Haas

Deal may signal start of consolidation in chemical industry

(Newser) - In what may be the beginning of a long-anticipated consolidation of the chemical industry, Dow Chemical today said it was buying coatings and electronic-materials company Rohm & Haas in a $15.3 billion all-cash deal, reports the Wall Street Journal. Dow is backed by $3 billion from Warren Buffett's Berkshire...

Buffett Poised to Clean Up in Bear Market

Oracle of Omaha prepares $40B spending spree

(Newser) - As the US teeters on the brink of recession and most investors remain sidelined by the credit crunch, Warren Buffett is poised to spend more than $40 billion to scoop up bargains. Berkshire Hathaway rose 22% over the last 12 months while other stocks sputtered, and now, Bloomberg reports, the...

Mars Buys Wrigley, With Assist From Buffett
Mars Buys Wrigley, With Assist From Buffett
UPDATED
Apr 28, 2008 8:05 AM CDT

Mars Buys Wrigley, With Assist From Buffett

Proposed purchase could push Hershey into merger to compete

(Newser) - M&Ms-maker Mars, backed by Warren Buffett, has made a deal to buy Wm. Wrigley Jr. Co. for about $23 billion, reports the New York Times. The acquisition is likely to force other candy makers like Hershey and Cadbury Schweppes into mergers to maintain market share against a powerful conglomerate...

Buffett Covets Euro Family Businesses

Billionaire investor scouts targets for $40B in cash

(Newser) - Warren Buffett is looking to put some of Berkshire Hathaway’s $40 billion in cash to work outside the US, targeting family-owned European businesses for acquisition, reports Bloomberg. Buffett—who Forbes magazine says is the world’s richest person--is going on a scouting tour next month to four European cities.

Warren Buffett: Soap Star
 Warren Buffett: Soap Star 
Mar 19, 2008 8:07 PM CDT

Warren Buffett: Soap Star

Billionaire investing guru will make a cameo on "All My Children"

(Newser) - Well, sure, he can make a billion at the drop of a hat. But can the man act? We'll see. Warren Buffett, he who sits atop the list of wealthiest people, with $62 billion, will make a cameo on the soap "All My Children" during May sweeps week, Reuters...

Buffet Unseats Gates as Richest Man on Earth

He's worth $62B; Gates is now third with $58B.

(Newser) - Bill Gates has passed the gilded torch: Warren Buffett and Mexican telecom mogul Carlos Slim have ended the Microsoft founder's 13-year reign as richest man on earth, Forbes reports. Buffett's fortune grew $10 billion this year to $62 billion, while Slim weighs in with an estimated $60 billion. Gates trails...

US in Recession Now: Buffett
US in Recession Now: Buffett
Mar 4, 2008 3:28 AM CST

US in Recession Now: Buffett

Billionaire says crisis is already here

(Newser) - The US is already in a recession for all practical purposes, even if economic conditions haven't yet met the technical definition of at least two consecutive quarters of negative growth. That's the verdict of billionaire investor Warren Buffett, who tells CNBC that a serious economic slowdown is obvious in reports...

Berkshire Hathaway's Q4 Income Off 18%

Insurance-industry woes mean 'that party is over,' Buffett says

(Newser) - Citing a decline in gains from insurance underwriting and sluggish investment returns, holding company Berkshire Hathaway said today that fourth-quarter income was off 18%—to $2.95 billion, from $3.58 billion—from a year earlier, the Wall Street Journal reports. Billionaire chairman Warren Buffett snuck in digs at Wall...

Jury Convicts Ex-Insurance Execs in Fraud

Five General Re and AIG officials face jail over scheme to deceive investors

(Newser) - A federal jury yesterday convicted five former insurance executives of fraud, conspiracy, and making false statements to the Securities and Exchange Commission as part of a scheme to deceive investors, Bloomberg reports. The convictions stem from a sham transaction in 2000 between General Reinsurance Corp. and American International Group that...

Buffett Offers to Save Municipal Lenders

Stocks rally, but companies may rebuff opportunistic Hathaway

(Newser) - Warren Buffett rode to the rescue today, though the color of his horse is in question. The Sage of Omaha offered to reinsure $800 billion worth of municipal bonds, resolving “in one stroke of a pen” the jitters plaguing the municipal debt market. But his plan is also a...

Fraud Trial May Put Buffett on Stand

Defense says billionaire knew about phony insurance deal

(Newser) - A criminal trial involving four ex-employees of billionaire Warren Buffett is likely to offer a rare—and unwelcome—glimpse into the inner workings of the “Oracle of Omaha,” the Wall Street Journal reports. Buffett isn’t charged in the case—to begin Monday—involving Berkshire Hathaway reinsurance unit...

Buffett to Buy Huge Industrial Firm Marmon

Billionaire investor strikes $4.5B deal with Pritzker family

(Newser) - Warren Buffett will pay $4.5 billion to acquire a majority stake in Marmon Holdings, an industrial conglomerate owned by one of America's richest familes, the Wall Street Journal reports. Buffett's Berkshire Hathaway will buy 60% of the company now from the Pritzker family of Chicago, with plans to acquire...

Stocks Rise on Buffett Rumor
Stocks Rise on Buffett Rumor
Sep 26, 2007 3:46 PM CDT

Stocks Rise on Buffett Rumor

Berkshire CEO may buy 20% of Bear Stearns

(Newser) - The Dow climbed 99.5 points today on the strength of the GM settlement and speculation that billionaire Warren Buffett might buy 20% of beleaguered Bear Stearns. The brokerage helped spur the biggest gain in a week, jumping 7.7% after the Buffett story circulated. Said a trader, “You...

Buffett Turns Wall Street's Frown Upside Down

Star investor hunts for lucrative bargains

(Newser) - Wall Street may be seeing red after weeks of volatility and losses, but Warren Buffett is seeing green as he goes bargain-hunting for the same kind of junk bonds and stocks that have netted him nearly $50 billion, the Journal reports. Downtrodden deal-makers are hoping the star investor will use...

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