Tuesday , November 24 2020

Warren Buffett loses 1.6 billion – in one day



DWarren Buffett's company has lost more than $ 4 billion on Friday due to the slippage of Kraft Heinz. The agency agency Bloomberg and the CNBC news channel agree. According to Bloomberg, the proportion of the Berkshire Hathaway at Kraft Heinz is worth only $ 11.4 billion, compared to $ 15.7 billion. After calculating, the price slide therefore means a loss of value of 3.8 billion euros for Warren Buffett.

Buffet is one of the richest men in the world. In the Forbes billionaire list, it is located third with assets of $ 84 billion. On Friday, his personal fortune is said to have reduced $ 1.6 billion due to the losses. So he recorded on Friday, the biggest losses of each one listed in the billionaires list.

Kraft Heinz's share price had generated Friday by more than 25 percent. That would mean a low record. Kraft Heinz had said that the company estimates the value of its brands lower, so it must eliminate $ 15 billion and also be audited by the US Securities and Exchange Commission. The authority has taken since October, the group's accounting and internal controls under the microscope, the company on Thursday in the balance sheet.

Prospects remain

Due to the billions in depreciation and the costs of raising raw materials, heinz maker and Philadelphia cheese 2018 made a net loss of 10.3 billion dollars. Prospects remain small, the third quarter breaks the quarterly dividend. Large food companies find it difficult to get customers around the world to eat more and more fresh and regional foods.

Berkshire Hathaway stock price responded to the news, reducing almost $ 6,000 or 2 percent. The stock is one of the cheapest in the world with a price of $ 302,000.


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