Summary
Berkshire Hathaway, led by CEO Warren Buffett, invested $350 million in The New York Times six years after selling its newspapers. The company also increased its shares in Chevron and reduced its holdings in Bank of America and Apple. These changes in investments came during Buffett's last quarter as CEO before Greg Abel took over.
Key Facts
- Warren Buffett's company, Berkshire Hathaway, invested $350 million in The New York Times.
- The investment comes six years after Buffett sold all of Berkshire's newspapers.
- Buffett previously predicted a decline for newspapers but believed national brands like The New York Times could succeed.
- Berkshire Hathaway also increased its investment in Chevron to over 130 million shares.
- The company sold off roughly 50 million Bank of America shares but still holds about 81 million shares in the bank.
- Berkshire reduced its Apple holdings by approximately 10 million shares but retains nearly 228 million shares.
- These investment changes were part of Warren Buffett's last quarter as CEO before Greg Abel succeeded him in January.
