Buffett: Berkshire Has Taken Stake in Amazon

Date : 05/03/2019 @ 9:01AM
Source : Dow Jones News
Stock : Berkshire Hathaway Inc (BRK.A)
Quote : 290500.0  3501.0 (1.22%) @ 1:00AM

Buffett: Berkshire Has Taken Stake in Amazon

Berkshire Hathaway (NYSE:BRK.A)
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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

WSJ City: The news, the key facts and why it matters. Be deeply informed in less than five minutes. You can find more concise stories like this on the WSJ City app. Download now from the App Store or Google Play, or sign up to newsletters here http://www.wsj.com/newsletters?sub=356&mod=djemwsjcity

 

(END) Dow Jones Newswires

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

Copyright (c) 2019 Dow Jones & Company, Inc.

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