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 02:30 2017 Saturday ,03 June
Egyptian designers present new accessories for RamadanGMT 23:30 2011 Thursday ,03 March
American top cardiologist Dr. Goldberg
GMT 09:11 2017 Sunday ,31 December
Palestinian officials slam controversial remarks
GMT 17:22 2014 Tuesday ,05 August
Bahraini MoW completes block 351 Swaifiya's sanitary project
GMT 00:33 2017 Friday ,06 October
OPEC daily basket price for Wednesday, 4th October 2017
GMT 12:46 2017 Sunday ,03 December
Philipp, Castro add to Dortmund's injury woes
GMT 03:39 2017 Tuesday ,06 June
Music stars unite in Manchester as fans face down fears
GMT 18:07 2017 Sunday ,22 January
4 al-Qaeda members killed in Yemen drone strikes
GMT 17:22 2017 Saturday ,29 July
China, Russia responsible for N.Korea threat
GMT 16:40 2017 Sunday ,26 February
Dubai International Horse Fair brings equestrian world to UAE
GMT 17:02 2017 Saturday ,04 March
US launches 30 airstrikes in two days against al-Qaeda in Yemen
GMT 00:54 2017 Saturday ,08 April
Dh1m for stories of hope in the Arab world
GMT 12:36 2016 Tuesday ,22 November
Fiji ants farm plants, study shows Ants found in the Pacific islands
GMT 15:34 2017 Wednesday ,11 January
Ivory Coast's president slims down government in reshuffle
GMT 14:24 2017 Saturday ,16 September
LUSH launches new perfume range Volume IV
GMT 14:55 2014 Wednesday ,16 July
Sheikha Fatima offers 60m gift
GMT 13:30 2017 Tuesday ,28 November
Tokyo stocks snap three-day winning streak
GMT 06:22 2017 Thursday ,16 November
Saudi prepaid SIMs can be recharged without entering IDs: CITC
GMT 16:42 2017 Tuesday ,24 January
Breathtaking Outdoor Entertaining Spaces Inspired from Alex Belson’s Projects
GMT 09:26 2018 Sunday ,09 December
Cold weather prevails over next 3 days
GMT 15:22 2018 Friday ,30 November
Paper industry around famous Chinese lake to be shut down by 2019
GMT 17:42 2018 Wednesday ,05 September
Bahrain Bourse daily trading performance
GMT 14:05 2014 Wednesday ,27 August
Phase 2 of Mall of the Emirates’ Evolution 2015 underway
GMT 18:55 2016 Friday ,15 July
Consortium closes $1.825bn Rabigh 1 refinancing
GMT 23:56 2018 Tuesday ,23 January
UAE Ambassador meets South Korean Health Minister
GMT 15:46 2018 Sunday ,21 January
Masdar City to test latest concepts in autonomous vehicles
GMT 09:48 2018 Sunday ,21 January
Elysee: Macron to welcome Hariri next Friday
GMT 08:40 2017 Monday ,01 May
Qatar Spares No Effort to Provide Humanitarian Assistance to Yemen
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor