Buffet joins JPMorgan
Author: Mario Schmidtgen
Four billion dollar investment
Star investor Warren Buffet and his investment company Berkshire Hathaway have bought over 35 million shares in the largest US bank JPMorgan. The investor has acquired a stake worth around four billion dollars. This was announced in a statement of the US Securities and Exchange Commission (SEC) on Wednesday.
Buffet is known for investing in US banks and financial service providers. As a result, the investor increased its stake in Bank of America in the last quarter. The investment company also bought shares of Goldman Sachs, US Bancorp and Bank of New York Mellon. Berkshire Hathaway also acquired shares in PNC Financial Services.
Buffet has been friends with JPMorgan boss Jamie Dimon for many years. Their companies are also working together with Amazon on a joint health insurance project. According to the US business magazine “Forbes”, Buffett’s assets currently amount to 88.8 billion dollars.