Warren Buffett
Buffett's BYD China investment could fall victim to the US China trade war
2020-05-11 10:30:00
Warren Buffett talks about his philanthropic values over the years
2020-12-21 18:27:00
Congress needs to help small businesses
2020-08-20 12:19:00
Berkshire buys shares in Barrick Gold
2020-11-14 18:13:00
Berkshire does a Stock Buyback
2020-05-11 10:30:00
Warren Buffett talks about his philanthropic values over the years
2020-12-21 18:27:00
Congress needs to help small businesses
2020-08-20 12:19:00
Berkshire buys shares in Barrick Gold
2020-11-14 18:13:00
Berkshire does a Stock Buyback
2020-05-11 10:30:00
Warren Buffett talks about his philanthropic values over the years
2020-12-21 18:27:00
Congress needs to help small businesses
Posted on 2019-08-12 11:00:00
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US politicians could soon pass new laws that would hurt one of Warren Buffett's investment. The law would prohibit public transit agencies from using Federal Funds to buy railcars or buses linked to the Chinese government.
Many years ago Berkshire invested $232 Million into BYD, a Chinese electric car company. In the past decade, BYD has grown into China's largest manufacturer of electric vehicles, including buses, where it has a significant business in the U.S. that employs about 800 workers at a plant in Lancaster, California. BYD has sold nearly 350 electric buses to communities in 14 U.S. states.
BYD has also been a major winner for Buffett, at least until recently. At the end of 2016, Berkshire's 8% stake in BYD was worth nearly $2 billion, making it Buffett's most valuable investment outside of the U.S., although still just a slice of Berkshire's $200 billion investment portfolio.
Shares of the electric vehicle maker have dropped lately, however, falling to nearly $6.50 from a high of $10.50 back in late 2017, in part because tensions over trade and fears about the Chinese economy but also because of a decline in public subsidies for electric vehicles around the world. Buffett's stake was recently valued at $1.4 billion.
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US politicians could soon pass new laws that would hurt one of Warren Buffett's investment. The law would prohibit public transit agencies from using Federal Funds to buy railcars or buses linked to the Chinese government.
Many years ago Berkshire invested $232 Million into BYD, a Chinese electric car company. In the past decade, BYD has grown into China's largest manufacturer of electric vehicles, including buses, where it has a significant business in the U.S. that employs about 800 workers at a plant in Lancaster, California. BYD has sold nearly 350 electric buses to communities in 14 U.S. states.
BYD has also been a major winner for Buffett, at least until recently. At the end of 2016, Berkshire's 8% stake in BYD was worth nearly $2 billion, making it Buffett's most valuable investment outside of the U.S., although still just a slice of Berkshire's $200 billion investment portfolio.
Shares of the electric vehicle maker have dropped lately, however, falling to nearly $6.50 from a high of $10.50 back in late 2017, in part because tensions over trade and fears about the Chinese economy but also because of a decline in public subsidies for electric vehicles around the world. Buffett's stake was recently valued at $1.4 billion.