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Berkshire Hathaway: Difference between revisions
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* The 2004 cartoon featured [[Arnold Schwarzenegger]] in the role of "The Warrenator" who travels through time to stop Buffett and Munger's attempt to save the world from a "mega" corporation formed by [[Microsoft]]-[[Starbucks]]-[[Wal-Mart]]. Schwarzenegger is later shown arguing in a gym with Buffett regarding [[California Proposition 13 (1978)|Proposition 13]].<ref>{{cite news | url=https://money.cnn.com/2004/05/01/pf/buffett_day_two/index.htm | title=Folksy fun at Buffett meeting | first=Jason | last=Zweig | work=CNN | date=May 1, 2004}}</ref> | * The 2004 cartoon featured [[Arnold Schwarzenegger]] in the role of "The Warrenator" who travels through time to stop Buffett and Munger's attempt to save the world from a "mega" corporation formed by [[Microsoft]]-[[Starbucks]]-[[Wal-Mart]]. Schwarzenegger is later shown arguing in a gym with Buffett regarding [[California Proposition 13 (1978)|Proposition 13]].<ref>{{cite news | url=https://money.cnn.com/2004/05/01/pf/buffett_day_two/index.htm | title=Folksy fun at Buffett meeting | first=Jason | last=Zweig | work=CNN | date=May 1, 2004}}</ref> | ||
* The 2006 cartoon depicted actresses [[Jamie Lee Curtis]] and [[Nicollette Sheridan]] lusting after Munger.<ref>{{cite news | url=https://www.fool.com/investing/value/2006/05/26/berkshire-behind-the-scenes-part-1.aspx | title=Berkshire Behind the Scenes: Part 1 | first=Rick | last=Casterline | work=[[The Motley Fool]] | date=May 26, 2006}}</ref><ref>{{Cite news | url=https://www.ft.com/content/bd8d5b5a-dde0-11da-af29-0000779e2340 | title=Buffett shows star quality at annual meeting | first=Richard | last=Beales | work=[[Financial Times]] | date=May 7, 2006}}</ref> | * The 2006 cartoon depicted actresses [[Jamie Lee Curtis]] and [[Nicollette Sheridan]] lusting after Munger.<ref>{{cite news | url=https://www.fool.com/investing/value/2006/05/26/berkshire-behind-the-scenes-part-1.aspx | title=Berkshire Behind the Scenes: Part 1 | first=Rick | last=Casterline | work=[[The Motley Fool]] | date=May 26, 2006}}</ref><ref>{{Cite news | url=https://www.ft.com/content/bd8d5b5a-dde0-11da-af29-0000779e2340 | title=Buffett shows star quality at annual meeting | first=Richard | last=Beales | work=[[Financial Times]] | date=May 7, 2006}}</ref> | ||
* The 2007 cartoon included Buffett playing basketball against [[LeBron James]].<ref>{{Cite news | url=https://money.cnn.com/2007/06/14/commentary/sportsbiz/index.htm | title=LeBron: The next Buffett? | first=Chris | last=Isidore | work=CNN | date=June 14, 2007}}</ref><ref>{{Cite news | url=https://www.wsj.com/articles/BL-MB-1240 | title=Buffett Plays Basketball | work= | * The 2007 cartoon included Buffett playing basketball against [[LeBron James]].<ref>{{Cite news | url=https://money.cnn.com/2007/06/14/commentary/sportsbiz/index.htm | title=LeBron: The next Buffett? | first=Chris | last=Isidore | work=CNN | date=June 14, 2007}}</ref><ref>{{Cite news | url=https://www.wsj.com/articles/BL-MB-1240 | title=Buffett Plays Basketball | work=The Wall Street Journal | date=May 5, 2007 | url-access=subscription}}</ref> | ||
* The 2008 cartoon depicted [[Charlie Munger]] becoming [[President of the United States]], after which he promotes eating at [[Dairy Queen]] to relieve the effects of increased temperatures due to [[climate change]].<ref>{{Cite magazine | url=https://business.time.com/2008/05/03/liveblogging_the_berkshire_hat/ | title=Liveblogging the Berkshire Hathaway annual meeting | first=Barbara | last=Kiviat | magazine=[[Time (magazine)|Time]] | date=May 3, 2008}}</ref> | * The 2008 cartoon depicted [[Charlie Munger]] becoming [[President of the United States]], after which he promotes eating at [[Dairy Queen]] to relieve the effects of increased temperatures due to [[climate change]].<ref>{{Cite magazine | url=https://business.time.com/2008/05/03/liveblogging_the_berkshire_hat/ | title=Liveblogging the Berkshire Hathaway annual meeting | first=Barbara | last=Kiviat | magazine=[[Time (magazine)|Time]] | date=May 3, 2008}}</ref> | ||
* The 2009 cartoon, aired just after the [[2007-2008 financial crisis]], showed a new mattress, named The Nervous Nellie, which has a hidden compartment for people who prefer to hide their money in the mattress than put it in the bank.<ref>{{Cite web | url=https://buffett.cnbc.com/video/2009/05/02/morning-session---2009--berkshire-hathaway-annual-meeting.html | title=Morning Session - 2009 Meeting | work=[[CNBC]] | date=May 2, 2009}}</ref> | * The 2009 cartoon, aired just after the [[2007-2008 financial crisis]], showed a new mattress, named The Nervous Nellie, which has a hidden compartment for people who prefer to hide their money in the mattress than put it in the bank.<ref>{{Cite web | url=https://buffett.cnbc.com/video/2009/05/02/morning-session---2009--berkshire-hathaway-annual-meeting.html | title=Morning Session - 2009 Meeting | work=[[CNBC]] | date=May 2, 2009}}</ref> | ||
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In April 2002, Berkshire acquired [[Fruit of the Loom]] for $835 million in cash. It acquired [[Russell Corporation]] in August 2006, for $600 million.<ref>{{Cite news | url=https://www.law.com/dailyreportonline/almID/1202552526372/ | title=Russell merger with Berkshire Hathaway overwhelmingly approved | work=[[Law.com]] | date=August 2, 2006}}</ref> Fruit of the Loom also acquired [[Brooks Sports]] in 2006.<ref>{{Cite news | url=https://finance.yahoo.com/news/how-warren-buffett-helped-save-a-company-on-the-brink-of-bankruptcy-183326248.html | title=How Warren Buffett saved Brooks Running Co. | first=Alexis | last=Christoforous | work=[[Yahoo! Finance]] | date=May 11, 2016}}</ref> | In April 2002, Berkshire acquired [[Fruit of the Loom]] for $835 million in cash. It acquired [[Russell Corporation]] in August 2006, for $600 million.<ref>{{Cite news | url=https://www.law.com/dailyreportonline/almID/1202552526372/ | title=Russell merger with Berkshire Hathaway overwhelmingly approved | work=[[Law.com]] | date=August 2, 2006}}</ref> Fruit of the Loom also acquired [[Brooks Sports]] in 2006.<ref>{{Cite news | url=https://finance.yahoo.com/news/how-warren-buffett-helped-save-a-company-on-the-brink-of-bankruptcy-183326248.html | title=How Warren Buffett saved Brooks Running Co. | first=Alexis | last=Christoforous | work=[[Yahoo! Finance]] | date=May 11, 2016}}</ref> | ||
In September 2002, Berkshire acquired [[Garanimals]] for $273 million.<ref>{{Cite news | url=https://www.wsj.com/articles/SB1025660717580786600 | title=Berkshire Hathaway to Buy Garan in $273.1 Million Deal | work= | In September 2002, Berkshire acquired [[Garanimals]] for $273 million.<ref>{{Cite news | url=https://www.wsj.com/articles/SB1025660717580786600 | title=Berkshire Hathaway to Buy Garan in $273.1 Million Deal | work=The Wall Street Journal | date=July 3, 2002 | url-access=subscription}}</ref> | ||
In October 2002, Berkshire acquired [[The Pampered Chef]], the largest direct seller of kitchen tools in the United States. Products are researched, designed, and tested by The Pampered Chef, and manufactured by third-party suppliers. From its headquarters in [[Addison, Illinois]], The Pampered Chef utilizes a network of more than 65,000 independent sales representatives to sell its products through home-based party demonstrations, principally in the United States.<ref>{{Cite news | url=https://www.chicagobusiness.com/article/20020923/NEWS/20006634/buffett-to-buy-out-pampered-chef | title=Buffett to buy out Pampered Chef | work=[[Crain Communications]] | last=Quigley | first=Kelly | date=September 23, 2002 | url-access=subscription}}</ref> | In October 2002, Berkshire acquired [[The Pampered Chef]], the largest direct seller of kitchen tools in the United States. Products are researched, designed, and tested by The Pampered Chef, and manufactured by third-party suppliers. From its headquarters in [[Addison, Illinois]], The Pampered Chef utilizes a network of more than 65,000 independent sales representatives to sell its products through home-based party demonstrations, principally in the United States.<ref>{{Cite news | url=https://www.chicagobusiness.com/article/20020923/NEWS/20006634/buffett-to-buy-out-pampered-chef | title=Buffett to buy out Pampered Chef | work=[[Crain Communications]] | last=Quigley | first=Kelly | date=September 23, 2002 | url-access=subscription}}</ref> | ||
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In May 2003, Berkshire acquired [[McLane Company]] from [[Walmart]].<ref>{{Cite news | url=https://www.nytimes.com/2003/05/03/business/wal-mart-agrees-to-sell-food-supplier.html |title=Wal-Mart Agrees to Sell Food Supplier |last=Hays |first=Constance L. | work=[[The New York Times]] |date=May 3, 2003 |url-access=limited}}</ref> The company later acquired Professional Datasolutions and Salado Sales. McLane provides wholesale distribution and logistics services in all 50 states and internationally in Brazil to customers that include discount retailers, convenience stores, quick-service restaurants, drug stores and movie theatre complexes.<ref>{{Cite web |url=https://www.ncsla.org/pdf/news/Welcome_our_newest_member-McLane.pdf |title=Welcome our newest member - McLane | work=National Conference of State Liquor Administrators | date=September 6, 2012}}</ref> | In May 2003, Berkshire acquired [[McLane Company]] from [[Walmart]].<ref>{{Cite news | url=https://www.nytimes.com/2003/05/03/business/wal-mart-agrees-to-sell-food-supplier.html |title=Wal-Mart Agrees to Sell Food Supplier |last=Hays |first=Constance L. | work=[[The New York Times]] |date=May 3, 2003 |url-access=limited}}</ref> The company later acquired Professional Datasolutions and Salado Sales. McLane provides wholesale distribution and logistics services in all 50 states and internationally in Brazil to customers that include discount retailers, convenience stores, quick-service restaurants, drug stores and movie theatre complexes.<ref>{{Cite web |url=https://www.ncsla.org/pdf/news/Welcome_our_newest_member-McLane.pdf |title=Welcome our newest member - McLane | work=National Conference of State Liquor Administrators | date=September 6, 2012}}</ref> | ||
In August 2003, Berkshire Hathaway acquired [[Clayton Homes]], a maker of [[manufactured housing]], modular homes, storage trailers, chassis, intermodal piggyback trailers and domestic containers, headquartered near [[Knoxville, Tennessee]], for $1.7 billion.<ref>{{cite news | url=https://www.wsj.com/articles/SB104925717315163800 | title=Berkshire Hathaway Agrees To Acquire Clayton Homes | work= | In August 2003, Berkshire Hathaway acquired [[Clayton Homes]], a maker of [[manufactured housing]], modular homes, storage trailers, chassis, intermodal piggyback trailers and domestic containers, headquartered near [[Knoxville, Tennessee]], for $1.7 billion.<ref>{{cite news | url=https://www.wsj.com/articles/SB104925717315163800 | title=Berkshire Hathaway Agrees To Acquire Clayton Homes | work=The Wall Street Journal | date=April 2, 2003 | url-access=subscription}}</ref><ref>{{Cite news | url=https://www.knoxnews.com/story/money/business/2024/02/28/berkshire-hathaway-bought-clayton-before-warren-buffett-spotted-pilot/72161214007/ | title=How Clayton's explosive growth proved Berkshire Hathaway's power long before Pilot sale | first=Daniel | last=Dassow | work=[[Knoxville News Sentinel]] | date=February 28, 2024}}</ref><ref name=Attracts/><ref>{{Cite news | url=https://www.bloomberg.com/news/articles/2003-04-01/berkshire-hathaway-agrees-to-acquire-clayton-homes | title=Berkshire Hathaway Agrees to Acquire Clayton Homes | work=[[Bloomberg News]] | date=April 1, 2003 | url-access=subscription}}</ref><ref>{{Cite news | url=https://www.wsj.com/articles/SB104925717315163800 | title=Berkshire Hathaway Agrees To Acquire Clayton Homes | agency=[[Dow Jones & Company]] | work=The Wall Street Journal | date=April 2, 2003 | url-access=subscription}}</ref><ref>{{Cite news | url=https://www.nytimes.com/2003/07/31/business/buffett-wins-battle-to-buy-clayton-homes.html | title=Buffett Wins Battle to Buy Clayton Homes | first=Andrew Ross | last=Sorkin | authorlink=Andrew Ross Sorkin | work=[[The New York Times]] | date=July 31, 2003 | url-access=limited}}</ref> | ||
In July 2005, Berkshire Hathaway acquired [[Forest River (company)|Forest River]], the world's largest seller of [[recreational vehicle]]s, from Pete Liegl for $800 million.<ref>{{Cite news | url=https://www.forbes.com/2005/07/22/buffett-berkshire-rv-0722autofacescan02.html | title=Buffett's Berkshire Hathaway Picks Up RV Maker | work=[[Forbes]] | date=July 22, 2005 | url-access=limited}}</ref> | In July 2005, Berkshire Hathaway acquired [[Forest River (company)|Forest River]], the world's largest seller of [[recreational vehicle]]s, from Pete Liegl for $800 million.<ref>{{Cite news | url=https://www.forbes.com/2005/07/22/buffett-berkshire-rv-0722autofacescan02.html | title=Buffett's Berkshire Hathaway Picks Up RV Maker | work=[[Forbes]] | date=July 22, 2005 | url-access=limited}}</ref> | ||
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In early 2008, Berkshire sharply increased its stake in [[ConocoPhillips]] to 85 million shares.<ref>{{Cite news | url=https://www.cnbc.com/2008/11/14/warren-buffetts-berkshire-hathaway-sharply-boosts-conocophillips-stake.html | title=Warren Buffett's Berkshire Hathaway Sharply Boosts ConocoPhillips Stake | first=Alex | last=Crippen | work=[[CNBC]] | date=November 14, 2008}}</ref> In one of Buffett's interviews, he later described this as "a major mistake" as the [[price of oil]] collapsed during the [[Great Recession]]. Berkshire sold most of its shares but held 472,000 shares until 2012. In that year, ConocoPhillips spun off a subsidiary, [[Phillips 66]], of which Berkshire owned 27 million shares. Berkshire later sold $1.4 billion worth of shares to Phillips 66 in exchange for Phillips Specialty Products.<ref>{{Cite news |url=https://www.fool.com/investing/general/2014/12/10/the-1-company-warren-buffett-is-most-likely-to-sel.aspx |title=The 1 Stock Warren Buffett Is Most Likely to Sell in 2015 |last=Hall |first=Jason | work=[[The Motley Fool]] |date=December 10, 2014}}</ref> Buffett frequently referred to Phillips 66 as one of the best businesses Berkshire invested in because of its consistent dividends and share buyback programs. However, Berkshire sold its entire holdings in 2020.<ref>{{Cite news |url=https://www.reuters.com/article/us-investment-funds-berkshire/buffetts-berkshire-slashes-goldman-stake-exits-phillips-66-travelers-idUSKBN22R3DL |title=Buffett's Berkshire slashes Goldman stake; exits Phillips 66, Travelers | last=Stempel | first=Jonathan | work=[[Reuters]] | date=May 16, 2020}}</ref><ref>{{Cite news | url=https://www.fool.com/investing/2020/05/20/warren-buffett-sold-phillips-66-heres-why-im-holdi.aspx | title=Warren Buffett Sold Phillips 66 -- Here's Why I'm Holding (and May Buy More) |last=Hall | first=Jason | work=[[The Motley Fool]] | date=May 20, 2020}}</ref> | In early 2008, Berkshire sharply increased its stake in [[ConocoPhillips]] to 85 million shares.<ref>{{Cite news | url=https://www.cnbc.com/2008/11/14/warren-buffetts-berkshire-hathaway-sharply-boosts-conocophillips-stake.html | title=Warren Buffett's Berkshire Hathaway Sharply Boosts ConocoPhillips Stake | first=Alex | last=Crippen | work=[[CNBC]] | date=November 14, 2008}}</ref> In one of Buffett's interviews, he later described this as "a major mistake" as the [[price of oil]] collapsed during the [[Great Recession]]. Berkshire sold most of its shares but held 472,000 shares until 2012. In that year, ConocoPhillips spun off a subsidiary, [[Phillips 66]], of which Berkshire owned 27 million shares. Berkshire later sold $1.4 billion worth of shares to Phillips 66 in exchange for Phillips Specialty Products.<ref>{{Cite news |url=https://www.fool.com/investing/general/2014/12/10/the-1-company-warren-buffett-is-most-likely-to-sel.aspx |title=The 1 Stock Warren Buffett Is Most Likely to Sell in 2015 |last=Hall |first=Jason | work=[[The Motley Fool]] |date=December 10, 2014}}</ref> Buffett frequently referred to Phillips 66 as one of the best businesses Berkshire invested in because of its consistent dividends and share buyback programs. However, Berkshire sold its entire holdings in 2020.<ref>{{Cite news |url=https://www.reuters.com/article/us-investment-funds-berkshire/buffetts-berkshire-slashes-goldman-stake-exits-phillips-66-travelers-idUSKBN22R3DL |title=Buffett's Berkshire slashes Goldman stake; exits Phillips 66, Travelers | last=Stempel | first=Jonathan | work=[[Reuters]] | date=May 16, 2020}}</ref><ref>{{Cite news | url=https://www.fool.com/investing/2020/05/20/warren-buffett-sold-phillips-66-heres-why-im-holdi.aspx | title=Warren Buffett Sold Phillips 66 -- Here's Why I'm Holding (and May Buy More) |last=Hall | first=Jason | work=[[The Motley Fool]] | date=May 20, 2020}}</ref> | ||
In September 2008, at the peak of the [[2007-2008 financial crisis]], Berkshire invested $5 billion in preferred stock in [[Goldman Sachs]] to provide it with a source of funding when capital markets had become constrained. The preferred stock yielded an annual interest rate of 10% earning Berkshire $500 million in interest income per year. Berkshire also received warrants to purchase 43.5 million shares with a strike price of $115 per share, which were exercisable at any time for a five-year term.<ref>{{cite press release | url=https://www.goldmansachs.com/pressroom/press-releases/2008/berkshire-hathaway-invest | title=Berkshire Hathaway to Invest $5 Billion in Goldman Sachs | publisher=[[Goldman Sachs]] | date=September 23, 2008 | archive-url=https://web.archive.org/web/20170602025553/http://www.goldmansachs.com/media-relations/press-releases/archived/2008/berkshire-hathaway-invest.html | archive-date=June 2, 2017 | url-status=live}}</ref><ref>{{Cite news | url=https://www.cnbc.com/2008/09/23/warren-buffett-gives-goldman-sachs-unexpected-5b-vote-of-confidence.html | title=Warren Buffett Gives Goldman Sachs Unexpected $5B Vote of Confidence | work=[[CNBC]] | date=September 23, 2008}}</ref> Goldman maintained the right to re-purchase the preferred stock and in March 2011 exercised this right paying $5.5 billion to Berkshire (the preferred stock could only be purchased back at a 10% premium). Profit on the preferred stock was estimated at $1.8 billion<ref>{{cite news |title=Warren Buffett's billion-$$ Goldman bet pays off |url=https://www.cnbc.com/2013/10/01/buffetts-berkshire-set-to-get-nearly-215-billion-of-goldman-stock.html | work=CNBC |date=October 1, 2013 |archive-url=https://web.archive.org/web/20170730123741/https://www.cnbc.com/2013/10/01/buffetts-berkshire-set-to-get-nearly-215-billion-of-goldman-stock.html |archive-date=July 30, 2017 |url-status=live}}</ref> and exercising the warrants has yielded a profit of more than $2 billion.<ref>{{cite web | url=http://pdf.secdatabase.com/2106/0000950150-08-000030.pdf | title=Berkshire Hathaway, Form 10-Q, Quarterly Report |publisher=[[EDGAR]] | date=November 7, 2008 | archive-url=https://web.archive.org/web/20130522091201/http://pdf.secdatabase.com/2106/0000950150-08-000030.pdf | archive-date=May 22, 2013 | url-status=live}}</ref> Buffett defended [[Lloyd Blankfein]]'s decisions as CEO of Goldman Sachs and his efforts to improve the reputation of the company during the [[2007-2008 financial crisis]].<ref>{{cite news |url=https://www.wsj.com/articles/SB122220798359168765|title=Buffett to Invest $5 billion in Goldman | date=September 24, 2008 | work= | In September 2008, at the peak of the [[2007-2008 financial crisis]], Berkshire invested $5 billion in preferred stock in [[Goldman Sachs]] to provide it with a source of funding when capital markets had become constrained. The preferred stock yielded an annual interest rate of 10% earning Berkshire $500 million in interest income per year. Berkshire also received warrants to purchase 43.5 million shares with a strike price of $115 per share, which were exercisable at any time for a five-year term.<ref>{{cite press release | url=https://www.goldmansachs.com/pressroom/press-releases/2008/berkshire-hathaway-invest | title=Berkshire Hathaway to Invest $5 Billion in Goldman Sachs | publisher=[[Goldman Sachs]] | date=September 23, 2008 | archive-url=https://web.archive.org/web/20170602025553/http://www.goldmansachs.com/media-relations/press-releases/archived/2008/berkshire-hathaway-invest.html | archive-date=June 2, 2017 | url-status=live}}</ref><ref>{{Cite news | url=https://www.cnbc.com/2008/09/23/warren-buffett-gives-goldman-sachs-unexpected-5b-vote-of-confidence.html | title=Warren Buffett Gives Goldman Sachs Unexpected $5B Vote of Confidence | work=[[CNBC]] | date=September 23, 2008}}</ref> Goldman maintained the right to re-purchase the preferred stock and in March 2011 exercised this right paying $5.5 billion to Berkshire (the preferred stock could only be purchased back at a 10% premium). Profit on the preferred stock was estimated at $1.8 billion<ref>{{cite news |title=Warren Buffett's billion-$$ Goldman bet pays off |url=https://www.cnbc.com/2013/10/01/buffetts-berkshire-set-to-get-nearly-215-billion-of-goldman-stock.html | work=CNBC |date=October 1, 2013 |archive-url=https://web.archive.org/web/20170730123741/https://www.cnbc.com/2013/10/01/buffetts-berkshire-set-to-get-nearly-215-billion-of-goldman-stock.html |archive-date=July 30, 2017 |url-status=live}}</ref> and exercising the warrants has yielded a profit of more than $2 billion.<ref>{{cite web | url=http://pdf.secdatabase.com/2106/0000950150-08-000030.pdf | title=Berkshire Hathaway, Form 10-Q, Quarterly Report |publisher=[[EDGAR]] | date=November 7, 2008 | archive-url=https://web.archive.org/web/20130522091201/http://pdf.secdatabase.com/2106/0000950150-08-000030.pdf | archive-date=May 22, 2013 | url-status=live}}</ref> Buffett defended [[Lloyd Blankfein]]'s decisions as CEO of Goldman Sachs and his efforts to improve the reputation of the company during the [[2007-2008 financial crisis]].<ref>{{cite news |url=https://www.wsj.com/articles/SB122220798359168765|title=Buffett to Invest $5 billion in Goldman | date=September 24, 2008 | work=The Wall Street Journal | first=Susanne | last=Craig |author-link=Susanne Craig |archive-url=https://web.archive.org/web/20150202015754/http://www.wsj.com/articles/SB122220798359168765 | archive-date=February 2, 2015 |url-status=live}}</ref><ref>{{cite news | url=https://www.forbes.com/2010/05/02/lloyd-blankfein-goldman-sachs-streettalk-markets-warren-buffett.html |title=The Buffett-Blankfein Alliance | first=Robert | last=Lenzner | work=[[Forbes]] | date=May 2, 2010 | url-access=limited |archive-url=https://web.archive.org/web/20120201115813/http://www.forbes.com/2010/05/02/lloyd-blankfein-goldman-sachs-streettalk-markets-warren-buffett.html| archive-date=February 1, 2012|url-status=live}}</ref><ref>{{cite news |url=https://archive.nytimes.com/dealbook.nytimes.com/2010/05/01/buffett-says-he-backs-goldmans-blankfein-100/ |title=Buffett Says He Backs Goldman's Blankfein 100% |work=[[The New York Times]] |date=May 1, 2010 |archive-url=https://web.archive.org/web/20150402162135/http://dealbook.nytimes.com/2010/05/01/buffett-says-he-backs-goldmans-blankfein-100/ |archive-date=April 2, 2015|url-status=live}}</ref> | ||
In September 2008, BHE invested about US$230 million for a 10% (or 9.89%) share of [[BYD Auto]] @ HK$8/share.<ref>{{Cite news |url=https://www.cnbc.com/2008/09/27/warren-buffett-invests-in-chinese-company-developing-green-cars.html |title=Warren Buffett Invests In Chinese Company Developing 'Green' Cars |last=Crippen |first=Alex | work=[[CNBC]] | date=September 27, 2008}}</ref> Some shares were sold in 2023 and 2024, with Buffett motivated by the [[China–United States trade war]].<ref>{{Cite news | url=https://www.reuters.com/business/autos-transportation/berkshire-hathaway-sells-398-mln-shares-chinas-byd-2024-06-17/ | title=Berkshire Hathaway trims stake in China's BYD | first=Jonathan | last=Stempel | work=[[Reuters]] | date=June 17, 2024}}</ref><ref>{{Cite news | url=https://markets.businessinsider.com/news/stocks/byd-stock-sales-warren-buffett-berkshire-hathaway-china-ev-munger-2023-11 | title=Warren Buffett's company slashed its stake in BYD. Here's why that's surprising – and 5 possible explanations. | first=Theron | last=Mohamed | work=[[Business Insider]] | date=November 14, 2023}}</ref><ref>{{Cite news | url=https://www.cnn.com/2024/06/18/cars/berkshire-hathaway-byd-china-ev-tensions-intl-hnk/index.html | title=Warren Buffett's Berkshire Hathaway dumps BYD shares following rise in trade tension over Chinese EVs | first=Laura | last=He | work=CNN | date=June 18, 2024}}</ref> | In September 2008, BHE invested about US$230 million for a 10% (or 9.89%) share of [[BYD Auto]] @ HK$8/share.<ref>{{Cite news |url=https://www.cnbc.com/2008/09/27/warren-buffett-invests-in-chinese-company-developing-green-cars.html |title=Warren Buffett Invests In Chinese Company Developing 'Green' Cars |last=Crippen |first=Alex | work=[[CNBC]] | date=September 27, 2008}}</ref> Some shares were sold in 2023 and 2024, with Buffett motivated by the [[China–United States trade war]].<ref>{{Cite news | url=https://www.reuters.com/business/autos-transportation/berkshire-hathaway-sells-398-mln-shares-chinas-byd-2024-06-17/ | title=Berkshire Hathaway trims stake in China's BYD | first=Jonathan | last=Stempel | work=[[Reuters]] | date=June 17, 2024}}</ref><ref>{{Cite news | url=https://markets.businessinsider.com/news/stocks/byd-stock-sales-warren-buffett-berkshire-hathaway-china-ev-munger-2023-11 | title=Warren Buffett's company slashed its stake in BYD. Here's why that's surprising – and 5 possible explanations. | first=Theron | last=Mohamed | work=[[Business Insider]] | date=November 14, 2023}}</ref><ref>{{Cite news | url=https://www.cnn.com/2024/06/18/cars/berkshire-hathaway-byd-china-ev-tensions-intl-hnk/index.html | title=Warren Buffett's Berkshire Hathaway dumps BYD shares following rise in trade tension over Chinese EVs | first=Laura | last=He | work=CNN | date=June 18, 2024}}</ref> | ||
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In the third quarter of 2022, Berkshire purchased 60 million shares in semiconductor manufacturing company [[TSMC]] valued at $4.1 billion; the shares were sold in late 2022 and 2023 in part due to geopolitical tensions.<ref>{{cite news | url=https://www.ft.com/content/6d4bb1f4-270a-46bd-8069-81148b636647 | title=Warren Buffett's Berkshire Hathaway buys $4bn stake in chipmaker TSMC | last=Platt | first=Eric | work=[[Financial Times]] | date=November 15, 2022 | url-access=limited}}</ref><ref name=dumps/><ref>{{cite news | last=Stempel | first=Jonathan | title=Buffett says geopolitics a factor in Berkshire sale of TSMC stake | url=https://www.reuters.com/technology/buffett-says-geopolitics-factor-berkshire-sale-tsmc-stake-2023-04-11/ | work=[[Reuters]] | date=April 11, 2023}}</ref> | In the third quarter of 2022, Berkshire purchased 60 million shares in semiconductor manufacturing company [[TSMC]] valued at $4.1 billion; the shares were sold in late 2022 and 2023 in part due to geopolitical tensions.<ref>{{cite news | url=https://www.ft.com/content/6d4bb1f4-270a-46bd-8069-81148b636647 | title=Warren Buffett's Berkshire Hathaway buys $4bn stake in chipmaker TSMC | last=Platt | first=Eric | work=[[Financial Times]] | date=November 15, 2022 | url-access=limited}}</ref><ref name=dumps/><ref>{{cite news | last=Stempel | first=Jonathan | title=Buffett says geopolitics a factor in Berkshire sale of TSMC stake | url=https://www.reuters.com/technology/buffett-says-geopolitics-factor-berkshire-sale-tsmc-stake-2023-04-11/ | work=[[Reuters]] | date=April 11, 2023}}</ref> | ||
Berkshire began investing in [[Chubb Limited]] in 2023; by 2024, it owned a 6.4% stake worth $6.7 billion.<ref>{{Cite news | title=Warren Buffett's Berkshire Reveals Its Mystery Stock: Chubb | url=https://www.wsj.com/finance/stocks/warren-buffetts-berkshire-reveals-its-mystery-stock-chubb-8ca0b4a3 | last=Langley | first=Karen | work= | Berkshire began investing in [[Chubb Limited]] in 2023; by 2024, it owned a 6.4% stake worth $6.7 billion.<ref>{{Cite news | title=Warren Buffett's Berkshire Reveals Its Mystery Stock: Chubb | url=https://www.wsj.com/finance/stocks/warren-buffetts-berkshire-reveals-its-mystery-stock-chubb-8ca0b4a3 | last=Langley | first=Karen | work=The Wall Street Journal | date=May 15, 2024}}</ref> | ||
==Awards and recognition== | ==Awards and recognition== | ||