Thus, in the third quarter alone, more was spent on this type of share price maintenance than ever before in a full calendar year. In the course of the year, the amount already adds up to about 16 billion dollars.
Many other companies have limited their share buybacks to keep their money together in the pandemic. But buffett sabbed with berkshire hathaway last on liquid funds of 145.7 billion dollars. Cash balance thus declined only slightly compared with the previous quarter. The 90-year-old star investor actually preferred to spend the money on investments – for a long time he largely rejected share buybacks to maintain the share price. But buffett has had a hard time finding suitable takeover targets for some time now.
Meanwhile, berkshire hathaway’s day-to-day business continues to suffer from the corona crisis. Operating profit fell 32 percent year-on-year to 5.5 billion dollars, important insurance business made a loss. Net income, meanwhile, benefited strongly from the stock market rally, rising from 16.5 billion to 30.1 billion dollars. Buffett himself, however, has always advised not to pay too much attention to this figure. Since unrealized investment gains and losses are reported here, there are strong fluctuations that say little about the actual course of business.
Berkshire hathaway owns around 90 companies, plus various share packages in major corporations listed on the stock exchange, such as coca-cola, wells fargo and apple – the iphone company in particular has become one of buffett’s great favorites in recent years. The investment legend, known as the "oracle of omaha" because of his good nose for lucrative investments, has led the conglomerate for more than 50 years. "Forbes" recently estimated buffett’s personal wealth at around 79 billion dollars. According to the US magazine, this makes him the fourth richest person in the world.
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