Buffett Buys His Own Shares For Billions

The day-to-day business of Berkshire Hathaway continues to suffer from the Corona crisis. Operating profit fell 32 percent year-over-year to $ 5.5 billion, with the major insurance business making a loss. The net result, however, profited strongly from the stock market rally and increased from 16.5 billion to 30.1 billion dollars. Buffett himself, however, always advises not paying much attention to this key figure. Since unrealized investment gains and losses are shown here, there are strong fluctuations that say little about the actual course of business. Berkshire Hathaway owns around 90 companies, plus various blocks of shares in large listed corporations such as Coca-Cola, Wells Fargo and Apple - the iPhone group in particular has become one of Buffett's favorites in recent years. The investment legend, known as the "Oracle of Omaha" because of its good smell for lucrative investments, has led the conglomerate for more than 50 years. "Forbes" recently estimated Buffett's personal wealth at around $ 79 billion. According to the US magazine, he is the fourth richest person in the world.