Buffett: Berkshire Has Taken Stake in Amazon

By WSJ City

Berkshire Hathaway has taken a stake in Amazon.com, Chairman Warren Buffett told CNBC.

KEY FACTS

--- Buffett said he hadn't personally decided upon the investment.

--- One of his portfolio managers--either Ted Weschler or Todd Combs--made the investment.

--- Berkshire will report its stockholdings as of March 31 later this month.

--- Buffett will take the stage and answer shareholder questions at the company's widely attended annual meeting on Saturday.

--- Neither Berkshire nor Amazon immediately responded to a request for comment.

Why This Matters

Buffett has praised Amazon CEO Jeff Bezos in the past and said he erred in not investing in Amazon early on.

"I had a very, very, very high opinion of Jeff's ability when I first met him, and I underestimated him."

Warren Buffett, At Berkshire's annual meeting last year

Berkshire, Amazon and JP Morgan Chase have launched a joint project called Haven to lower health-care costs for their employees.

A fuller story is available on WSJ.com

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(END) Dow Jones Newswires

May 03, 2019 03:46 ET (07:46 GMT)

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