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Warren Buffett Says He Has Sold All Of His Paramount Global Stock, Losing “Quite A Bit Of Money”

05.05.2024 - 00:53

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deadline.com

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Warren Buffett says he has sold all of his shares in Paramount Global at a significant loss. Speaking at the annual meeting of Berkshire Hathaway, his company, today in Omaha, NE, the billionaire investor took full ownership of the bad call.

Despite speculation to the contrary, he said, “It was 100% my decision” to invest in Paramount in 2022. “We sold it all and we lost quite a bit of money.

That happens in this business.” (Watch a clip of him above.) As of the end of 2023, Berkshire owned 63.3 million Class B, or non-voting shares, which had a value of about $800 million at the time.

The stake, which represented about 10.1% of the company’s equity, helped boost the stock when Buffett initially invested in 2022.

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