Warren Buffett becomes top shareholder in Bank of America
American billionaire Warren Buffett
New York - AFP
American billionaire Warren Buffett's Berkshire Hathaway group has officially become the top shareholder in Bank of America after exercising its right to buy 700 million shares at a discount.
Buffett had received the warrants in 2011 after investing $5 billion in the bank, which was suffering at the time from the fallout from the global financial crisis.
Bank of America said Buffett had acquired the shares for about $7.14 each -- well below their Tuesday closing price of $23.58.
Buffett's investment is now worth $16.51 billion, meaning he has made a capital gain of nearly $12 billion.
"In 2011, we welcomed Berkshire Hathaway as a shareholder, and we appreciate their continued support now as our largest common shareholder," the bank's CEO Brian Moynihan said in a statement.
Buffett's other holdings include major assets in real estate and insurance. He is also the biggest shareholder in Wells Fargo.
Source: AFP
GMT 05:25 2018 Thursday ,11 January
Berkshire edges towards naming successor to BuffettGMT 04:19 2017 Monday ,12 June
Warren Buffett charity lunch sells for $2.68mGMT 10:00 2017 Wednesday ,05 April
Billionaire Warren Buffet becomes face of Coke in ChinaGMT 15:27 2016 Tuesday ,02 August
Buffett rebukes Trump, questions his business skill
Economic conference on investment opportunities in Syria kicks off
Bucharest - SANA
With the participation of 120 representatives of Romanian companies, Chambers of Commerce and industry, An economic conference on “Reconstruction in Syria between the development of economic steadfastness and the opportunities ofRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launched from the Baikonur CosmodromeLiverpool, Manchester City seek neighbours' help in title chase
London - DPA
Liverpool and Manchester City will be looking for a little help from their not-so-friendly neighbours this weekend. The Premier League front-runners face each other's local rivals when City host Everton and Liverpool take on Manchester United. Liverpool jumped above City at theBlue light in smartphones linked to blindness and some cancers
Spain - DPA
Ever since we have started to become chained to our smartphones and tablets, people have been saying that the waves coming off these devices must be bad for us. So often laughed off as conspiracy theorists, it now looks more and moreFestive Fashion by Dubai-based designer ASMARAÏA
Dubai - Arab Today
Dubai-based label ASMARAÏA just launched its pre-fall 2019 collection — and it’s all about cruelty-free, sustainable fashion with a festive edge. Checkmate The 15-piece collection features this checkered skirt-and-jacket ensemble that is giving us major “Clueless” vibes. Gold Rush ‘Tis the season to sparkle and this dazzling, floor-length gold skirt will do the trick. Take note of the chic black bow detail at the waist — it’s the ultimate party look. Feathered fashion The brand works with environmentally-friendly materials such as organic cotton, recycled polyester and faux fur, so you can be sure this feathered look doesn’t come at the cost of an animal’s life. Jewel Tones If you want to glisten like a polished jewel at your next festive function, this emerald-colored skirt is the perfect choice with its sequin details and shimmery overlay. Golden Girl Leopard print
GMT 03:25 2017 Thursday ,22 June
Mosul residents fear cold and hunger of winter siege
GMT 11:15 2016 Saturday ,12 November
US-EU TTIP trade deal 'frozen' after Trump vote
GMT 11:32 2016 Friday ,25 March
Saudi film fans revel on 'green carpet'
GMT 05:42 2017 Wednesday ,25 January
Trump urges US automakers to make big push for new plants
GMT 14:02 2018 Thursday ,06 September
Iran’s parliament speaker expects final decision on Idlib to be made at Tehran summitGMT 08:54 2011 Saturday ,13 August
Rania Barghout: Bold and beautiful
GMT 12:23 2017 Thursday ,14 September
Al Barahma calls for solution for Hassima
GMT 19:24 2017 Saturday ,30 September
UN visit to Myanmar's Rakhine state thwarted by 'bad weather'
GMT 20:15 2017 Friday ,03 February
ITC installs 30 Variable Message Signs to improve road safety
GMT 09:25 2017 Sunday ,19 March
Springsteen hails Chuck Berry as greatest rocker of all time
GMT 21:24 2017 Thursday ,21 September
Emirates Development Bank launches housing loan programme
GMT 21:19 2017 Friday ,20 October
Qaddafi family forms legal team to sue Qatari figures
GMT 08:22 2018 Tuesday ,04 December
Houthis ‘still break international law’ despite confidence-building measures
GMT 21:36 2014 Tuesday ,11 February
German war drama shot in Afghanistan premieres in Berlin
GMT 19:36 2015 Thursday ,23 July
Anne Hathaway compliments Amy Schumer in 'Trainwreck'
GMT 14:14 2017 Thursday ,23 March
UAE Vice President Meets Armenian President
GMT 19:49 2017 Tuesday ,26 September
Kuwait totally supports maintaining Iraq's unity, stability
GMT 16:02 2017 Sunday ,06 August
Venezuela's top prosecutor says under 'siege' by military
GMT 16:53 2017 Tuesday ,28 February
President says Turkey targeting Syria's Manbij in next military move
GMT 22:50 2017 Wednesday ,06 December
Hamdan bin Zayed calls for expansion of ERC’s relief operations
GMT 05:13 2016 Tuesday ,21 June
4, including German national, die in US heatwave
GMT 08:35 2017 Wednesday ,01 March
Artist Rowaida Attiya will launch a new song
GMT 12:45 2017 Sunday ,16 April
Rafsanjani brother registers to contest elections
GMT 20:36 2017 Monday ,09 January
Malaysian Businesses to Remain Moderately Upbeat in Q1
GMT 11:53 2017 Saturday ,16 September
Jolie effect helps Namibian tourism
GMT 11:33 2017 Monday ,22 May
Under siege in Washington, Trump reaps Saudi arms deal, stronger ties
GMT 21:06 2017 Wednesday ,26 April
N.Korea Detains US Citizen
GMT 21:17 2017 Tuesday ,21 March
Yemeni Ad-Dali's governor escapes assassination attempt
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor