Warren Buffet’s firm Berkshire Hathaway announced today that it has purchased 10 million shares of General Motors stock. The company disclose the investment today in a filing with the Securities Exchange Commission.
The investment by Buffet’s company is just a small part of GM’s 1.57 billion outstanding shares – however, having Warren’s name behind the company should give some boost to the Detroit automaker’s image.
The shares would be worth $224,000,000 at today’s closing price of $22.40. up 98 cents.
Buffett has no plans to purchase stock in Facebook.
– By: Omar Rana