Berkshire Hathaway sold 34 million Bank of America shares for $1.48 billion; still holds 998 million shares.
Warren Buffett's Berkshire Hathaway has sold around 34 million shares of Bank of America valued at $1.48 billion, according to a public filing. Despite the sale, Berkshire still owns over 998 million shares, worth over $42 billion, making it one of the bank's largest shareholders. Buffett initially invested $5 billion in Bank of America in 2011, which helped the bank quell doubts about its capital and led to a surge in its share price.
July 20, 2024
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