Business Warren Buffett suffered serious losses
Last year Berkshire Hathaway over the same period earned a net profit of $21.7 billion.
Holding company Berkshire Hathaway American businessman and investor Warren Buffett suffered losses of nearly $50 billion in the first quarter due to the effects of the spread of coronavirus COVID-19. This is evidenced by its corporate reporting, released on Saturday, may 2.
According to the results of the three-month period ended March 31, net losses of Berkshire Hathaway reached $49.7 billion For the same period last year profit of the company was estimated at $21.7 billion As noted by the television channels CNBC and CNN, in Berkshire Hathaway have never reported such a big loss.
The company stated that during the first quarter was “rapid spread of the virus around the world”.
“The measures taken by the authorities and private business to combat proliferation has had a significant impact on our work in March. They will probably have a negative impact on our operations in the second quarter, although the extent of this may vary,” reads salcete.
Berkshire Hathaway owns large stakes in dozens of companies. Among them are the leading U.S. airlines, banks, manufacturers of machinery. The spread of the virus has caused serious damage to the U.S. economy and led to a significant depreciation of the stock of many companies.
According to recent estimates from Bloomberg, Warren Buffett ranks fifth in the list of the richest people in the world. His fortune is estimated at $72 billion Since the beginning of this year, it fell by more than $17 billion.
Earlier it was reported that the company is Warren Buffett’s prepared for his death. Billionaire in August this year will be 90 years old.
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