Warren Buffett

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Warren Buffett Resigns From Gates Foundation

The other two trustees are getting divorced

(Newser) - Warren Buffett resigned Wednesday as trustee of the Bill and Melinda Gates Foundation, which says it will announce plans in July to answer questions raised about its leadership structure as it deals with the divorce of its two founders . The announcement comes weeks after Bill and Melinda Gates revealed that...

ProPublica Gets Tax Details on the Richest of the Rich
ProPublica Gets Tax Details
on the Richest of the Rich
investigation
Jun 8, 2021 12:46 PM CDT

ProPublica Gets Tax Details on the Richest of the Rich

And finds that they pay a tiny fraction of their wealth in taxes

(Newser) - The richest Americans might complain about the federal government's tax bite, but an investigation by ProPublica reveals a compelling counterpoint. The very rich pay only a "tiny fraction" of their wealth in federal income taxes. And that's in stark contrast to Americans who live paycheck to paycheck,...

Buffett Clarifies Berkshire&#39;s Line of Succession
Buffett Makes
Successor
Known
May 3, 2021 5:29 PM CDT

Buffett Makes Successor Known

Greg Abel is next up to run Berkshire Hathaway, followed by Ajit Jain

(Newser) - Warren Buffett said Monday that he's chosen his successor from his vice chairmen, though he didn't say anything about retiring. Greg Abel, 58, who's already in charge of Berkshire Hathaway's noninsurance business, would become chief executive, CNBC reports. Next in line is Ajit Jain, 69, who...

Old Guard of Investing Snipes at Newcomer, Which Snipes Back
It's Warren Buffett
vs. Robinhood
May 3, 2021 10:25 AM CDT

It's Warren Buffett vs. Robinhood

Old guard of investing criticizes day trading company, which fires back

(Newser) - Warren Buffett and his Berkshire Hathaway lieutenant Charlie Munger have a combined age of 187. And they made clear over the weekend that they're not fans of day trading upstart Robinhood , which caters to millennials, reports CNBC . The company has "become a very significant part of the casino...

Warren Buffett Becomes 6th Guy to Join Elite Group

Berkshire Hathaway chair can now claim $100B to his name

(Newser) - Tired: becoming a billionaire. Wired: entering the $100 billion club. Now in the latter category is Warren Buffett, who on Wednesday joined an elite group of five—Bill Gates, Elon Musk, Jeff Bezos, Mark Zuckerberg, and LVMH Chair Bernard Arnault—who've been able to claim that benchmark amount in...

Famed Investor Lists Concerns but Puts Money on America

Buffett: Progress in creating a more perfect nation often has been discouraging

(Newser) - Warren Buffett has been unusually quiet during the pandemic, but he's kept his annual appointment with his shareholders. The chairman and chief executive of Berkshire Hathaway released his closely watched assessment Saturday, Axios reports. On many fronts, Buffett expressed frustration in the letter . The nation still holds onto its...

There's a New Richest Person in the World

Tesla CEO moves a billion past Jeff Bezos

(Newser) - The skyrocketing price of Tesla shares pushed Elon Musk's wealth past that of Jeff Bezos on Thursday, crowning a new richest person in the world. Musk is now listed as being worth $185 billion, a billion more than Amazon's Bezos, CNBC reports. It's not exactly a rags-to-riches...

Investor Makes $12B on Biggest Software IPO Ever
Investor Makes $12B on
Biggest Software IPO Ever
the rundown
Sep 17, 2020 10:40 AM CDT

Investor Makes $12B on Biggest Software IPO Ever

Snowflake has a massive debut

(Newser) - If you're hearing the word "snowflake" a lot today, it has nothing to do with politics. Snowflake the tech company is coming off the largest software IPO in history on Wednesday, reports CNN . The company priced its shares for the initial public offering at $120, but they opened...

'James Bond of Philanthropy' Has Gone 'Broke'

Billionaire Chuck Feeney inspired Warren Buffett's giving

(Newser) - Chuck Feeney made billions after co-founding airport retailer Duty Free Shoppers in 1960. He's been "living a life of monklike frugality" ever since, according to Forbes , which reports the world is better for it. The "James Bond of philanthropy" has anonymously donated more than $8 billion to...

Warren Buffett Allegedly Swindled Out of $703M
Warren Buffett
Allegedly Swindled
Out of $703M
in case you missed it
May 23, 2020 3:00 PM CDT

Warren Buffett Allegedly Swindled Out of $703M

German manufacturing company has been ordered to pay it back

(Newser) - Even the chairman and CEO of Berkshire Hathaway is apparently not immune to losing millions due to fraud. A German manufacturing company allegedly swindled Warren Buffett out of more than $703 million, the Guardian reports. A unit of Berkshire Hathaway paid more than $875 million for the family-run company, Wilhelm...

Warren Buffett Dumped All His Airline Stocks

To the tune of $4B amid pandemic fallout

(Newser) - More bad news for the airline industry: The Oracle of Omaha has jumped ship. Warren Buffett says that his Berkshire Hathaway has unloaded its airline stocks—to the tune of about $4 billion, reports CNBC . "The world has changed for the airlines," Buffett said during a much scaled-down...

Warren Buffett's Flip Phone Is 'Permanently Gone'

Billionaire investor now uses an iPhone11

(Newser) - After years of encouragement in the form of gift iPhones, as well as an offer from Apple's CEO to fly to Omaha to set one up for him, Warren Buffett has made the switch. He's now using the new iPhone11, CNBC reports. What did he do with his...

Here's Who Paid $4.5M for a Lunch With Warren Buffett

That's a record as the 'Oracle of Omaha' continues to raise money for GLIDE

(Newser) - This is the 20th year Warren Buffett has auctioned off a "power lunch" with himself, and the winning bid set a record at more than $4.5 million. The billionaire investor started doing the auctions at a live charity event for GLIDE , a foundation that helps the homeless in...

Buffett Gives 390K a Shot at $1M a Year for Life

March Madness challenge limited to Berkshire Hathaway employees

(Newser) - Warren Buffett is offering $1 million a year for life in his March Madness bracket challenge—but this year, only Berkshire Hathaway's 390,000 employees are eligible. Employees will need to correctly guess which NCAA Division I teams make the Sweet 16—"assuming nobody else wins at the...

Life Advice Tweeter Gains Massive Audience as 'Warren Buffet'

For a few days anyway

(Newser) - Lawmakers, TV hosts, even Kanye West retweeted the advice shared by @WarrenBuffet99. "Find a mentor" and "don't spend what you don’t have" were among the tips the account offered. It's "cool" to follow your dreams and be nice to strangers, the tweets continued. They...

Move Over, Buffett. There's a New No. 3 on Richest List

Mark Zuckerberg had a very good day on Friday

(Newser) - Facebook shares climbed 2.4% on Friday to a record $203.23, reports Bloomberg , a performance fine enough to vault founder Mark Zuckerberg past the vaunted Oracle of Omaha on the list of the world's richest people. The surge put Zuck at a net worth of $81.6 billion,...

Trump Still a Multi-Billionaire, but His Ranking Tumbles

He falls to No. 766 in newest ranking by 'Forbes'

(Newser) - President Trump probably won't be happy to see Forbes ' 2018 ranking of the world's richest people—he has fallen from No. 544 to No. 766. The list pegs Trump's fortune at $3.1 billion, $400 million less than in 2017. Forbes notes that New York City'...

3 Corporate Giants to Go After the 'Hungry Tapeworm'

Amazon, JPMorgan, Berkshire Hathaway will team up on health care

(Newser) - "The ballooning costs of health care act as a hungry tapeworm on the American economy," says Berkshire Hathaway CEO Warren Buffett, and he has teamed up with some equally huge names in an attempt to go after said tapeworm. Amazon.com, Berkshire Hathaway, and JPMorgan Chase on Tuesday...

Warren Buffett Thinks Bitcoin Will End Badly

Cryptocurrency falls on talk of South Korea ban

(Newser) - Warren Buffett's advice on bitcoin and other cryptocurrencies can be summed up in two words: Stay away. In an interview with CNBC on Wednesday, the billionaire Berkshire Hathaway investor said that "in terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a...

Warren Buffett Just Gave Away $3.2B
Warren Buffett Just
Gave Away $3.2B
Jul 11, 2017 7:14 AM CDT

Warren Buffett Just Gave Away $3.2B

Largest chunk to go to Bill and Melinda Gates Foundation

(Newser) - Warren Buffett remains the fourth-richest person in the world, but his pockets are now significantly lighter. As part of his annual giving spree, the billionaire announced Monday he would donate $3.17 billion in Berkshire Hathaway stock to five charities. The Bill and Melinda Gates Foundation will receive the largest...

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