Viacom is finally appealing to the middle of the country. Tuesday, Warren Buffett’s Berkshire Hathaway disclosed that it has begun buying stock in Viacom Inc., controlled by billionaire Sumner Redstone.
Warren Buffett is a legendary investor who now sits at the CEO position as well as Chairman and President of the multibillion dollar corporation known as Berkshire Hathaway.
For convenience I will refer to Berkshire Hathaway as BH. BH is a conglomerate holding company which means that they specialize in investing across several different industries.
Yahoo! Finance defines BH to be in the financial sector and their primary industry as Property and Casualty Insurance. Some of the other companies that BH owns and manages are GEICO Insurance, Helzberg Diamonds, Benjamin Moore & Co., and Dairy Queen.
BH also owns large portions of stock in Heinz and Mars Incorporated. Due to the present day’s stock market volatility there would be no other better choice than to buy into Berkshire Hathaway.
What most people fail to realize about BH is that it is involved in so many well-known companies but is hidden behind the scenes of many of these companies such as Wells Fargo (WFC.) At WFC the BH holding value is set at $21.38 billion and its stake in the company is valued at 8.8%.
Along with this, BH also holds $13.49 billion of American Express, which translates to owning 14.3% of American Express. Another big company that BH is involved with is International Business Machines (IBM.)
BH is responsible for having a 6.3% stake in the company, in addition to having a holding value of $12.51 billion. Besides owning percentages of different multibillion-dollar corporations, they also own a large amount of companies.
As mentioned before they own companies such as GEICO insurance, which is an indirect, fully owned subsidiary of BH.
Even billionaires like Warren Buffett think watching sports is more fun with a little money on the line.
Buffett’s Berkshire Hathaway is insuring a Quicken Loans contest that will award $1 billion to anyone who can correctly guess the winners of all 67 games in this spring’s NCAA men’s basketball tournament. Buffett said the idea for the contest was his.
He said he was talking sports with Quicken Loans founder and Chairman Dan Gilbert in November when he pitched the idea to insure a $1-billion prize for a perfect bracket.