Wednesday , April 14 2021

Warren Buffett joins JPMorgan for $ 4 billion




Investor Star Warren Buffett and his investment firm Berkshire Hathaway made a major entry into the largest US bank, JPMorgan. In the third quarter, the 88-year-old stock-market guru's investment holding bought more than 35 million shares of the bank, earning about $ 4 billion in investments. This comes from a statement to the US Securities and Exchange Commission on Wednesday.

In addition, Buffett is heavily dependent on US banks and financial services: his share of Bank of America also grew strongly in the last quarter, with Berkshire Hathaway increasing Goldman Sachs, US Bancorp and Bank of New York Mellon and joining to PNC Financial Services. ,

Buffett and JPMorgan's chief, Jamie Dimon, have long been friends and his companies are working with Amazon on a joint health insurance project. The US business magazine "Forbes" estimates Buffett's fortune at about $ 88.8 billion.

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