Warren Buffett announced his retirement as CEO of Berkshire Hathaway at the age of 94. The investor, who acquired the company in 1965, will propose Canadian Greg Abel as its new CEO.

In his recent public reappearance, Buffett announced his retirement to make way for a new CEO who will take over later this year, assuring that he will remain present “and could be helpful in some cases.”

The entrepreneur clarified that he will not sell a single Berkshire Hathaway share for financial reasons, as he believes the company’s prospects “will be better under Greg’s management than under mine.”

Buffett’s decision was announced during Berkshire’s annual dinner, attended by some 40,000 people. The gathering was an opportunity to issue a warning to President Donald Trump: “Trade cannot be an act of war, and I think it has led to bad things. We should seek trade with the rest of the world; we should do what we do best, and they should do what they do best.”

Among other comments related to the current financial landscape, Buffett asserted that “soon his company will re-enter the financial market because opportunities will open up for which we will be happy to have the cash.”

M.Pino

Source: ambito

(Reference image: Sean Pollock on Unsplash)

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La entrada Warren Buffett announces his retirement as CEO of Berkshire Hathaway apareció primero en Bitfinance.

The company that owns Warren Buffett, Berkshire Hathaway, announced that it will increase its participation in the Brazilian neobank Nubank, which is very famous in the world of cryptocurrencies.

A recently circulated form shows how the investment group acquired Nu Holdings Class A shares, worth a total of $1 billion.

In the same way, Warren Buffett announced the sale of shares of the Visa and Mastercard funds transfer company, for a value of 1,800 million and 1,300 million dollars respectively.

The recent acquisition of Nubank shares could mean a change in the strategy of the famous investor, known for his cautious attitude towards digital assets and in particular towards bitcoin, which he has called “rat poison squared”.

K. Tovar

Source: Informe21

La entrada Warren Buffett announces that he will invest in Nubank apareció primero en Bitfinance.

The Brazilian financial entity Nubank has collected 500 million dollars from Berkshire Hathaway, a multinational holding company led by billionaire Warren Buffett, which will be used to develop its expansion in the global financial market.

The announcement was made this Tuesday, June 8, by its executive director, David Vélez, who also highlighted that they have more than 40 million users in Brazil, Mexico and Colombia.

The digital bank was recently launched in Colombia, achieving significant enrollment figures, stating that in Latin America half of the inhabitants have bank accounts and only approximately 21 % have credit cards, with the goal of attracting new executives from the main technology companies

According to Vélez: “No one thought that it was possible to change the financial system, but we were always convinced that there was room for disruption and innovation and, more importantly, that customers deserved better service.”

Warren Buffett, Chairman of Berkshire Hathaway, has referred to cryptocurrencies and especially bitcoin as “worthless” currencies, refusing to obtain them. However, the investments made in the last year of the multinational conglomerate are aimed at companies related to cloud technology in the Snowflake cloud. Berkshire Hathaway, plus billions of dollars in Apple and Amazon stock.

M. Rodríguez

Fuente: cointegraph.com

La entrada Berkshire Hathway invests USD 500 million in Brazilian digital bank apareció primero en Bitfinance.