This warning reportedly resonated deeply with Amazon founder Jeff Bezos. “Bezos changed his method of managing the company“says Milton Berg, a former adviser to George Soros and Stanley Druckenmiller. “I didn’t want Buffett to be right.”
More than two decades later, Amazon is still in business and has become one of the largest companies in the world, with a market capitalization of $2.1 trillion.
As for Buffett, he eventually adjusted his views on tech stocks, and his company Berkshire Hathaway owns several tech stocks and has become one of the largest shareholders in Amazon.
How many shares of Amazon does Buffett own?
Buffett is betting big on Amazon. According to the latest Form 13F filings, Berkshire’s publicly traded stock portfolio includes about 40 holdings. Amazon is the 17th largest holding on the list, with 100% of the stock holdings.with a total stake of 10 million shares valued at approximately US$1.8 billion.
That represents 0.1% of Amazon’s total shares. Berkshire has owned Amazon stock since the first quarter of 2019Since then, the share price has more than doubled.
Berkshire’s original stake was valued at about $860 million. According to Buffett, the investment was initiated by one of his lieutenants, either Todd Combs or Ted Weschler. At the time, Buffett jokingly added that he had been “an idiot” for not initiating the investment himself.
Berkshire’s stock price appreciation has largely contributed to the growth of Amazon’s stake, but the firm has not remained steadfast in its investment. It sold some Amazon stock as recently as last summer, when it reduced its stake by 550,000 shares.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
