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Berkshire raises stake in Amazon

By Kristopher Fraser


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CNBC has reported that Warren Buffett's Berkshire Hathaway has increased its stake in Amazon by 11 percent, now worth 947 million dollars. Berkshire now owns 537,300 shares of Amazon. Buffet announced his initial investment of Amazon back in May, but clarified that they were bought by someone in his office who handles the money.

In addition to his investment in Amazon, Buffett is also betting big on banks increasing his stakes in Bank of America and U.S. Bancorp. Although Buffett has traditionally avoided tech investments, he has also purchased a large stake in Apple.

Buffett is also reportedly working with Amazon founder Jeff Bezos on a joint healthcare venture. Amazon is looking to become more than just a distribution company as it explores other business endeavors, like health insurance.

Warren Buffett