The reduction in the conglomerate’s outstanding shares was noted in a Wednesday filing concerning Buffett’s $2.9 billion donation of Berkshire stock to five nonprofits, part of his pledge to give away nearly all his fortune. If Berkshire repurchased those shares, it might have conducted roughly $4.9 billion to $5.9 billion of buybacks, depending on the price, over 2-1/2 months, analysts said.
Berkshire did not immediately respond to a request for comment. Buybacks could help Buffett reduce Berkshire’s cash hoard, which totaled $137.2 billion as of March 31. The old policy allowed buybacks only at prices up to 1.2 times book value. Shanahan estimated Berkshire’s current multiple at 1.1. Berkshire’s previous buybacks under the current policy totaled about $8 billion, including $1.7 billion from January to March as the coronavirus pandemic drove down the price. Wednesday’s filing said Buffett owned the equivalent of 248,741 Class A shares, a 15.54% stake, following his donations.
:O
BOOOO! BOOOO to buybacks & their consequential artifical inflation of stock market, which doesn't represent most Americans' realities... like, 1/3 of Americans missed last month's housing payment! Now, HOW is stock market gonna be at 25k+++ when people can't afford basic housing?
Gangsta
I don’t think they have enough cash to buyback!
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How Warren Buffett’s Money Is Doing Environmental Double Duty With $10 Billion Pipeline DealFrom pig manure power to windfarms, Virginia’s Dominion Energy is transforming itself into a renewable energy powerhouse — Berkshire Hathaway’s cash will only accelerate the process. I will make your portrait into awesome gta character in 24 hours From pig manure power to windfarms, Virginia’s Dominion Energy is transforming itself into a renewable energy powerhouse—Berkshire Hathaway’s cash will only accelerate the process
Source: Forbes - 🏆 394. / 53 Read more »
Why is Warren Buffett, the 'Oracle of Omaha,’ betting on a future with fossil fuels?Berkshire Hathaway is investing nearly $10 billion in fossil fuel infrastructure, even as state governments push for cleaner energy. Check out my Gig on Fiverr: I will make book trailer or book promo video Well, as for fossil fuels, the future is limited. I heard he bought a natural gas company's debt. The company now is pivoting to provide services to homes across the US moving away from corporate contracts. Now they're after county contacts.
Source: latimes - 🏆 11. / 82 Read more »
How Buffett’s $10 Billion Pipeline Deal Is Doing Environmental Double Duty Helping Dominion Energy Turn Acres Of Manure Into Clean PowerFrom pig-manure power to wind farms, Virginia’s Dominion Energy is transforming itself into a renewable energy powerhouse—Berkshire Hathaway’s cash will only accelerate the process.
Source: Forbes - 🏆 394. / 53 Read more »
How Buffett’s $10 Billion Pipeline Deal Is Doing Environmental Double Duty Helping Dominion Energy Turn Acres Of Manure Into Clean PowerFrom pig-manure power to wind farms, Virginia’s Dominion Energy is transforming itself into a renewable energy powerhouse—Berkshire Hathaway’s cash will only accelerate the process.
Source: Forbes - 🏆 394. / 53 Read more »
Fetal coronavirus infection is possible, small study suggestsHowever, fetal infections are likely rare.
Source: NBCNewsHealth - 🏆 707. / 51 Read more »
Javicia Leslie cast as 1st Black 'Batwoman' TV show lead'I am extremely proud to be the first Black actress to play the iconic role of Batwoman on television.' It's sad when talent is picked by race, I guess creating new characters is more difficult than changing the race of a character to sit better with a certain few. Upsetting a fanbase by tampering with characters, but inclusion is needed, good luck to her, she's a beautiful woman Blackwoman?
Source: ABC - 🏆 471. / 51 Read more »