 "Mr. Buffett’s $3 billion crisis-era investment generated a profit of more than $1 billion photo:reuters")
Warren Buffett’s Berkshire Hathaway Inc. is getting out of one of America’s oldest companies: General Electric Co.
The billionaire investor’s firm sold 10.6 million GE shares in the second quarter, a stake that would have been worth an estimated $315 million as of June 30, according to a regulatory filing. Berkshire received most of the shares in 2013 after the investor lent roughly $3 billion to GE in October 2008 during the depths of the financial crisis.
In addition to the shares, Berkshire received hundreds of millions in dividends from GE over several years. All told, Mr. Buffett’s
The billionaire investor’s firm sold 10.6 million GE shares in the second quarter, a stake that would have been worth an estimated $315 million as of June 30, according to a regulatory filing. Berkshire received most of the shares in 2013 after the investor lent roughly $3 billion to GE in October 2008 during the depths of the financial crisis.
In addition to the shares, Berkshire received hundreds of millions in dividends from GE over several years. All told, Mr. Buffett’s
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