Warren Buffett’s company sold its 50% stake in Apple:- Warren Buffett’s Berkshire Hathaway Inc. has reduced its stake in Apple by nearly 50%, building a record cash reserve of $276.9 billion (roughly Rs. 23.20 lakh crores). While the exact number of shares sold has not been disclosed, it is estimated that Berkshire’s remaining investment in Apple as of the second quarter is $84.2 billion (roughly Rs. 7.05 lakh crores), down from $135.4 billion (roughly Rs. 11.34 lakh crores) at the end of the first quarter.
Warren Buffet is the 7th richest person in the world
According to Forbes’ Real Time Billionaires List, 93-year-old Warren Buffett’s personal wealth is estimated at Rs 11.29 lakh crore, making him one of the world’s most prominent investors. Meanwhile, Tesla’s Elon Musk tops the list with a staggering wealth of Rs 19.05 lakh crore.
Also reduced stake in Bank of America
Recently, Berkshire Hathaway significantly reduced its stake in Bank of America, its second-largest holding after Apple. The stake was reduced to 12.15 percent, valued at more than $35 billion as of market close on Friday. The sell-off came after Bank of America shares rose 75 percent from late October until Berkshire began selling in July. At Berkshire’s annual meeting in May, Warren Buffett highlighted the importance of prioritizing investments with minimal risk and high return potential.
Warren Buffet sold shares worth this much rupees
Warren Buffett’s Berkshire Hathaway Inc. has cut its shareholdings in numerous companies, selling a total of $75.5 billion (around Rs 6.32 lakh crore) worth of shares in the second quarter alone. This move boosted its operating income from $10 billion (approximately Rs 83,767 crore) last year to $11.6 billion (about Rs 97,170 crore), according to a Saturday announcement from the Omaha, Nebraska-based firm. Many experts suggest that this record-selling spree may be driven by concerns over a potential U.S. recession. Recently, the company has been focusing on reducing its stakes in various businesses while significantly increasing its cash reserves amid a sharp decline in the U.S. stock market.