Warren Buffett Reacquired His Shares

Warren Buffett reacquired his shares. The famous billionaire investor said the share buybacks will continue.

World-renowned billionaire Warren Buffett presented information on the repurchase of company shares in a letter to investors about the financial results of Berkshire Hathaway, which he owns, for the last quarter of 2020. Renowned investor Warren Buffett had a record $ 24.7 billion share buyback in his own company Berkshire Hathaway in 2020. In the fourth quarter of the year alone, $ 9 billion was bought back. The famous billionaire Buffett stated in a letter he sent to investors that the share buybacks would continue. According to the current data released, while the earnings in Berkshire stocks were 2.4 percent in 2020, it fell behind the performance of the S&P 500 index of 16 percent. It was stated that the operating profit of the company increased by 14 percent in the last quarter of the year due to the shares in its portfolio such as Apple. Operating profit in the quarter was recorded as $ 5.02 billion. In the same period of last year, this figure was recorded as 4.42 billion dollars. The net profit of the company was recorded as 29.16 billion dollars in the same period of last year, while it was 35.84 billion dollars in the fourth quarter of this year.