Image: AP
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Warren Buffett has lost $ 50 billion
The corona crisis has badly caught the most famous contemporary investor.
Warren Buffett is considered the most successful investor today. How many millions of dollars has been earned by entrusting him with his money early is a popular game among financial journalists. Books of his ingenious chess moves fill libraries. With his millions of fans he is nicknamed the “Oracle of Omaha”.
The 89-year-old Buffett does not run his business on Wall Street in New York, but has always had his humble office in Lincoln, the capital of the provincial state of Nebraska.
Buffett’s investment vehicle is the holding company Berkshire Hathaway Inc. It controls a very wide range of companies, from insurance companies to airlines and railroads to shoe and mattress manufacturers. He has a special preference for Coca Cola, not only as a shareholder, but also privately.
But Buffett is not afraid to take the risk. He is one of the first investors in the Chinese electric car manufacturer BYD.
Operational business “significantly influenced”
Despite this broad portfolio, even the master investor is not immune to the corona crisis. Berkshire Hathaway reports a loss of around 50 billion after the first quarter. The corona virus “had a significant impact on operating business in the first quarter, and will continue to do so in the second,” reports a press release from the holding company.
Buffett actually has no reason to panic. At the end of February, he was in a $ 137.3 billion cash reserve. It also knows how to use crises in its favor. In the 2008/09 financial crisis, he once again expanded his already huge empire.
Buffett’s loss is therefore less of a shock to him than to the others. If the top of the class got it that way – what do the other books look like?
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