Berkshire Hathaway Vice Chairman Charlie Munger pushed back against a report alleging that his partner Warren Buffett had traded stocks in his personal account several times before the group made moves in the same securities.
Munger, 99, told CNBC’s Becky Quick in an interview that the idea that Buffett was a leader in Berkshire’s own business doesn’t make sense, pointing to his charitable donations and the fact that most of his wealth is in Berkshire. Tied in stock.
“I don’t think there’s even the slightest possibility that Warren Buffett is doing something that’s extremely bad to make money for himself. He cares more about what happens to Berkshire than what he Worries about what happens to his own money. He gave all his money away. He doesn’t even have it anymore,” Mungar said.
on 9th November Article, ProPublica reported that Buffett had made personal trades in Berkshire stock on at least three occasions shortly before or in the same quarter. ProPublica cited leaked IRS data as the source of the information. CNBC has not independently confirmed the timing of these trades.
ProPublica reports that Buffett made at least $466 million in individual stock sales between 2000 and 2019. This would represent a very small percentage of Buffett’s total net worth. A securities filed August revealed that Buffett owned more than 200,000 Berkshire Hathaway A shares, worth more than $100 billion.
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