Buffett Bought 75 MILLION Apple Shares During Q1; Total Stake Now Worth $42.5 BILLION

Buffett Bought 75M Apple Shares During Q1; Total Stake Now Worth $42.5B:

Warren Buffett took a break from explaining his views on bitcoin to pop star Katy Perry to reveal during an interview this week that Berkshire Hathaway bought another 75 million Apple shares during the first quarter – bringing Berkshire’s total stake to 240.3 million shares worth roughly $42.54 billion.

That’s nearly twice as much stock as Apple itself bought back during the first quarter as it marshaled a flood of repatriated profits unleashed by the Republican tax reform law to carry out the largest corporate buyback in US corporate history.

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Amazon, Berkshire And JPMorgan To Form Healthcare Company “Free From Profit-Making Incentives”

Amazon, Berkshire And JPMorgan To Form Healthcare Company “Free From Profit-Making Incentives”:

In a move that might explain why Amazon has been quietly acquiring pharmacy licenses (not to mention hitting daily all time highs) the e-commerce giant – along with Warren Buffett’s Berkshire Hathaway and JP Morgan Chase & Co. – announced on Tuesday morning that they would partner to form a new health-care venture.

As stated in the press release, “Amazon, Berkshire Hathaway and JPMorgan Chase & Co. announced today that they are partnering on ways to address healthcare for their U.S. employees, with the aim of improving employee satisfaction and reducing costs. The three companies, which bring their scale and complementary expertise to this long-term effort, will pursue this objective through an independent company that is free from profit-making incentives and constraints. The initial focus of the new company will be on technology solutions that will provide U.S. employees and their families with simplified, high-quality and transparent healthcare at a reasonable cost.”

Read moreAmazon, Berkshire And JPMorgan To Form Healthcare Company “Free From Profit-Making Incentives”

Warren Buffett: “I Would Buy A Five-Year Put On Every Cryptocurrency”

Buffett: “I Would Buy A Five-Year Put On Every Cryptocurrency”:

“[Cryptocurrencies are] something I don’t know anything about… [but] I can say with almost certainty that they will come to a bad ending…”

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Bill Gates, Jeff Bezos and Warren Buffett own more wealth than the poorest half of the US

Bill Gates, Jeff Bezos and Warren Buffett own more wealth than the poorest half of the US:

The three wealthiest people in the United States – Bill Gates, Jeff Bezos, and Warren Buffett – own more wealth than the entire bottom half of the American population combined, a total of 160 million people.

The three business moguls have a total wealth of $248.5bn (£189bn), while America’s top 25 billionaires together hold $1tn in wealth – about the same amount as 56pc of the US population combined.

H/t reader squodgy:

“Warms the heart.”

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The Value Of “Lunch With Warren Buffett” Plunges 22%

The Value Of “Lunch With Warren Buffett” Plunges 22%:

The winning bidder in legendary investor Warren Buffett’s annual charity auction has pledged $2.68 million for the privilege of eating lunch with the billionaire investor… about $800,000 shy of the record sum of $3,456,789 paid in 2016.

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Half of humanity’s wealth is owned by only eight people

Half of humanity’s wealth is owned by only eight people:

In 2017, the wealth gap is wider then ever before. Just eight billionaires have a net worth of more than half the world’s population combined. To illustrate the rate at which this growth continues to occur, last year there were 62 individuals who had collectively accumulated as much wealth as half the planet. The gap continues to grow, and Americans continue to fork over their money to companies like Microsoft and Amazon. In fact, six of the eight wealthiest men are Americans.

An analysis from Oxfam warns that the gap between the rich and the poor is greater than ever. In their report, An Economy for the 99%, Oxfam describes the gap as “obscene.” The analysis reveals that eight very wealthy men have a combined net worth of $426 billion. There are 3.6 billion people comprising the poorest half of the world’s population, and their combined net worth is only $409 billion.

Read moreHalf of humanity’s wealth is owned by only eight people