Warren Buffet is attentive to banking crisis us U.S. O billionaire allegedly contacted high-ranking government officials biden after the bankruptcy of Silicon Valley Bank (SVB).
According to information from international agencies, there were several conversations between the Joe Biden It is buffett last week. The calls revolved around the guru’s concern financial market on the solvency of regional banks.
Rumors suggest that the Berkshire Hathaway would be investing in the regional banking sector of USA. However, there is no confirmation of this information. In any case, the billionaire would have taken advantage of the contact to advise the US government on the current turmoil.
Buffet sees opportunity in crisis
The financial conglomerate based in omahaNebraska, is one of the world’s leading investors Bank of America, Bank of NY Mellon It’s from Citigroup. Therefore, it would be no surprise that buffet was gathering privileged information from within the White House.
It is also worth remembering that the billionaire lent about US$ 5 billion to Goldman Sachs at the height of the 2008 financial crisis. Also, in the early 1990s, he saved the Solomon Brothers after a bond market scandal.
With that, the expectation is that Buffett is about to strike again, launching some lucrative buyout proposal for some troubled bank. If confirmed, the attack could help, and a lot, to stabilize the global markets.
Thus, the calls were not just about possible advice, but about potential investments by the billionaire, with the potential to restore the trust of the investors. For now, it’s all just speculation. latest banking crisis which is on the way.
Record profit in 2008
Berkshire Hathawayin Warren Buffettannounced at the end of February the highest annual operating profit ever. besides the result record of almost US$ 31 billion in 2022, the annual letter of Warren Buffet.
in it, he detailed the dominant participation of the Berkshire Hathaway in eight actions. More details are here.
In addition, Berkshire Hathaway has stepped up the pace of share repurchases, repurchasing more than $1.8 billion of its own shares this year. The operation strengthens the manager’s cash position and adds up to almost US$ 60 billion between 2020 and 2022.
*With information from Reuters and Bloomberg
Source: Moneytimes
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