You are here: Home » News-IANS » Business-Economy
Business Standard

Warren Buffett's Berkshire reveals $900 mn Amazon stake

IANS  |  San Francisco 

Warren Buffett's had shares worth $904 million in at the end of March 31, the media reported citing a regulatory filing.

According to a report in CNBC on Thursday, a filing at the revealed that Berkshire's stake in was 483,300 shares at March-end.

The stake represents just about 0.1 per cent of Amazon's outstanding equity, the report said.

Buffett first disclosed the new investment in to CNBC earlier this month.

He said that someone at Berkshire's asset management desk just invested in some Amazon shares but "it wasn't me."

"One of the fellows in the office that manage money ... bought some Amazon," Buffett was quoted as saying.

The stake in Amazon is a first for the Buffett has repeatedly praised Amazon and its in the past.

"The truth is that I've watched Amazon from the start and I think what has done is something close to a miracle, and the problem is if I think something is going to be a miracle I tend not to bet on it," Buffett said.

Last year, Berkshire, Amazon and unveiled a joint venture to improve for their employees.

owns about 250 million shares of

--IANS

gb/mr

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, May 16 2019. 13:00 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU