Berkshire Hathaway, owned by the American billionaire Warren Buffett sold shares of Bank of America worth 982 million USD, reported ag. Bloomberg.
According to his information, the businessman intends to continue reducing his investments in the second largest American bank, but did not disclose the reasons for this decision. In July, he already sold shares of Bank of America for a total of USD 5.4 billion, reducing his stake in the bank by almost 13%.
Buffett started investing in Bank of America in 2011, when the bank's stock price was around $5. Before the series of sell-offs began in July, shares of Bank of America had risen 31% this year, but after Buffett reduced his investment in the corporation, they lost 10%, falling to $39.67 per share.< /p>
Buffett's series of stock sales marks the 93-year-old billionaire's largest exit from his banking assets. However, Buffett remains the largest holder of Bank of America shares: he owns securities worth $35.9 billion. The agency notes that investments in Bank of America have long served as a sign of Buffett's approval of the work of American lawyer and investment banker Brian Moynihan. as head of the bank.
On August 3, The Wall Street Journal reported that Buffett had also sold nearly half of his stake in Apple Corporation. The sale took place in the second quarter of this year, and the remaining stake at the end of June was valued at USD 84.2 billion.