Warren Buffett’s firm reports nearly $50B loss as investments drop

The biggest factor in the loss was a $54.5 billion paper loss Berkshire's investment portfolio as the stock market declined sharply after the coronavirus outbreak began.
Warren Buffett

Warren Buffett’s company, Berkshire Hathaway, has reported a nearly $50 billion loss because of a huge drop in the paper value of its investments. Berkshire said Saturday that it lost $49.7 billion, or $30,653 per Class A share, during the first quarter.

That’s down from last year’s profit of $21.66 billion, or $13,209 per Class A share. The biggest factor in the loss was a $54.5 billion paper loss Berkshire’s investment portfolio as the stock market declined sharply after the coronavirus outbreak began.

Berkshire is sitting on a pile of more than $137 billion cash because Buffett has struggled to find major acquisitions recently.

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