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 08:25 2018 Wednesday ,12 December
Australian government discusses moving Israel embassy to Jerusalem
GMT 13:42 2015 Saturday ,04 April
Libyan warplane targets camp in Gharyan town
GMT 01:43 2016 Wednesday ,16 November
Star alliance conference focuses on upgrading aviation safety
GMT 12:44 2017 Thursday ,20 July
Amid turning tide, AIDS claimed 1 million lives in 2016
GMT 15:14 2017 Wednesday ,01 March
UN documents nearly 1,500 child soldiers in Yemen
GMT 13:09 2017 Tuesday ,19 December
U.S. uses veto against resolution to withdraw recognition
GMT 07:24 2017 Sunday ,01 October
Mexico unlikely to find more quake survivors
GMT 16:15 2015 Wednesday ,11 November
German intelligence 'spied' on Fabius, FBI, UN bodies
GMT 01:14 2017 Sunday ,26 February
Syrian army makes advances after week-long battles with IS in eastern Aleppo
GMT 01:32 2017 Saturday ,15 April
Russia's Putin earns about 157,000 USD in 2016
GMT 10:19 2017 Sunday ,15 January
Omani wildlife expert on mission to save Arabian leopard
GMT 16:30 2017 Saturday ,15 July
Minister of planning gives priority
GMT 19:45 2017 Wednesday ,05 April
President of Senegal Meets Attorney General
GMT 05:18 2017 Thursday ,21 September
Over 80 missing after migrant boat sinks off Libya
GMT 19:22 2017 Saturday ,01 April
UN: Number of Syrian Refugees Tops 5 million
GMT 11:44 2017 Saturday ,21 October
UAE strongly supports President Trump’s new Iran strategy
GMT 15:16 2016 Thursday ,29 September
FBI to put up database on police use of deadly force
GMT 05:06 2016 Friday ,30 September
Indian markets open flat
GMT 02:37 2016 Thursday ,25 August
New Belgian airline plans to launch direct flights to China
GMT 01:57 2017 Tuesday ,10 October
Twin suicide bombs kill 13 near Mogadishu airport
GMT 02:25 2017 Friday ,08 September
UAE celebrates National Day at Expo 2017 Astana
GMT 20:13 2017 Sunday ,16 July
Turkish plane makes emergency landing at Cairo airport
GMT 06:19 2017 Sunday ,08 January
Bleaching poses the gravest threat to coral reefs
GMT 07:03 2017 Tuesday ,02 May
Abdullah bin Zayed meets UAE scholarship students in Japan
GMT 12:35 2017 Monday ,18 September
Elham Shahin happy for “Day for Women”
GMT 09:46 2017 Thursday ,22 June
US existing home sales unexpectedly rise in May
GMT 02:36 2017 Tuesday ,10 January
US embassy condemns Al-Arish suicide attack
GMT 10:34 2017 Sunday ,26 November
czar faces graft probe
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