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Warren Buffett's Berkshire Hathaway grew its cash pile to a record $189 billion last quarter. Berkshire dumped a net $17 billion of stocks, and boosted its buyback spend to $2.6 billion. The famed investor's Berkshire Hathaway raised its stockpile of cash and Treasury bills by $21 billion to a record $189 billion — a 13% increase in just three months. Related storiesThe centibillionaire and his team only spent $2.7 billion on stocks last quarter, while they dumped $20 billion worth, marking their largest quarterly disposal in several years. AdvertisementBerkshire's net stock sales totaled $24 billion in 2023, which was a big turnaround from its purchase of $34 billion of stocks on a net basis in 2022.
Persons: Warren, Berkshire Hathaway, , Buffett, NetJets Organizations: Berkshire, Service, BNSF Railway, Travel Centers Locations: Woodstock
In his 27 years at the helm of Amazon, Jeff Bezos taught his successor, Jassy, and others a lot about how to run one of the world's biggest businesses. One of Bezos' meeting no-nos is PowerPoints, which he has banned in company meetings. "I thought to myself, 'We can sell anything this way,'" Bezos said. Bezos says Type 1 decisions take up most of your time, while Type 2 decisions should be delegated or grouped with other smaller decisions for later. Bezos believes you should make decisions with 70% of the information you wish you had, and iterate from there.
Persons: , Andy Jassy, Jeff Bezos, Jassy, Jeff, Bezos, he's, It's, He's, they've, centibillionaire, you'll, you'd Organizations: Service, Business Locations: Amazon
Warren Buffett, 93, has more in common with YouTuber Ryan Trahan, 25, than you might think. Trahan specializes in turning a penny into hundreds or even thousands of dollars within days. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . If the 93-year-old investor watched YouTube, he might be a fan of Ryan Trahan.
Persons: Warren Buffett, YouTuber Ryan Trahan, Trahan, , Ryan Trahan, Charlie Munger, Berkshire Hathaway, vlogger, hawking, Buffett, penny's Organizations: Service, YouTube, Berkshire, Buffett —, HBO Locations: California, North Carolina, McDonald's, Berkshire
Mark Zuckerberg, Bill Gates and other CEOs and celebs are at a wedding pre-party in India this weekend. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The centibillionaire's grip on domestic commerce makes him a powerful partner for Western companies trying to break into the Indian market. Vital growth frontierUS executives are eager to cozy up to Ambani and Reliance because they see dollar signs when they look at India.
Persons: Mark Zuckerberg, Bill Gates, Mukesh, , Sundar Pichai, Ivanka Trump, Mukesh Ambani's, Ambani, Larry Page, Sergey Brin, Anant, Radhika Merchant, Mukesh Ambani, Nita, Prodip Guha, Tim Cook, Cook, Apple's, Ted Sarandos, Meta Organizations: Apple, Microsoft, Netflix, Service, Reliance Industries, Bloomberg, Qualcomm, Intel, Hindustan Times, Amazon, Indian Locations: India, China, New Delhi
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewWarren Buffett on Saturday released his annual letter to Berkshire Hathaway shareholders, offering subtle investment advice to readers who may be looking to grow their wealth the way the centibillionaire has. When you find a truly wonderful business, stick with it," Buffett writes. "Patience pays, and one wonderful business can offset the many mediocre decisions that are inevitable." Advertisement"One investment rule at Berkshire has not and will not change: Never risk permanent loss of capital.
Persons: , Warren Buffett, Buffett, lauding, Bertie, Berkshire Hathaway, Coke, Patience Organizations: Service, Berkshire Hathaway, Business, Street Journal, Express, Berkshire, American Express Locations: Berkshire
Warren Buffett hailed Charlie Munger as the "architect" of Berkshire Hathaway in his annual letter. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWarren Buffett paid tribute to Charlie Munger, touted four of Berkshire Hathaway's biggest bets, and voiced frustration in his annual letter to shareholders published on Saturday. He shaped Berkshire into a world-beating conglomerate and helped Buffett evolve from bargain hunting to buying businesses at fair prices.
Persons: Warren Buffett, Charlie Munger, Berkshire Hathaway, Buffett, , Charlie, he's, Munger, Ajit Jain, Greg Abel, Bertie Organizations: Service, Berkshire, American Express, Occidental Petroleum Locations: Berkshire, Omaha , Nebraska, Munger, United States, Omaha
Elon Musk plans 'TruthGPT' A.I. to rival OpenAI, DeepMind
  + stars: | 2023-04-18 | by ( Lora Kolodny | ) www.cnbc.com   time to read: +2 min
Elon Musk, chief executive officer of Tesla Inc., departs court in San Francisco, California, US, on Tuesday, Jan. 24, 2023. With an agency and industry-accepted rules in place, "I think we'll have a better chance of advanced AI being beneficial to humanity," Musk said. Previously, Musk signed a letter calling for a pause on advanced AI research, which he and others believe can harm society. The new technology would ostensibly compete with similar efforts by Sam Altman-led OpenAI, which was initially funded by Musk, Google's DeepMind and other AI initiatives around the world. Musk added that he is worried that current AI technology is "being trained to be politically correct, which is simply another way of ... saying untruthful things."
Asia's richest person, Gautam Adani, passed Jeff Bezos to become the world's second-richest person. In February, Adani, the founder and chairman of Adani Group, became Asia's richest person, surpassing fellow Indian businessman Mukesh Ambani. He managed his brother's plastic company, helping him import PVC, and in 1988 eventually established the flagship for Adani Group, Adani Enterprises. Adani Group comprises seven publicly-traded companies, including Adani Green Energy Ltd and Adani Total Gas Ltd. As of September 16, 2022, Adani Group has a market cap of over $258.44 billion. As second-richest person, Adani is only behind Elon Musk, who is worth $264 billion, according to the Bloomberg Billionaires Index.
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