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Millionaires & Billionaires Billionaires

  • May 6- Billionaire investor Warren Buffett and Berkshire Hathaway Vice Chairman Charlie Munger are answering five hours of questions from shareholders, journalists and analysts at Berkshire's 52nd annual meeting in Omaha, Nebraska. Below are a few of the comments from Buffett, the "Oracle of Omaha," on topics ranging from Wells Fargo to celebrating a pioneer of...

  • OMAHA, Neb., May 5- Berkshire Hathaway Inc, the conglomerate run by billionaire investor Warren Buffett, reported a 27 percent decline in first-quarter profit on Friday, and said a loss from insurance underwriting contributed to operating results that fell short of forecasts. Net income fell to $4.06 billion, or $2,469 per Class A share, from $5.59 billion, or...

  • OMAHA, Neb., May 5- Berkshire Hathaway Inc, the conglomerate run by billionaire investor Warren Buffett, on Friday reported a 27 percent decline in first-quarter profit, and said a loss from insurance underwriting contributed to operating results that fell short of forecasts. Net income fell to $4.06 billion, or $2,469 per Class A share, from $5.59 billion, or...

  • NEW YORK, May 5- Paul Singer's hedge fund firm Elliott Management Corp raised more than $5 billion in about 24 hours this week, citing a major potential investment opportunity at a time when Singer said financial markets could face a disruption after being distorted by years of economic stimulus. Singer, in an email to investors on Wednesday announcing the...

  • OMAHA, Neb., May 5- Berkshire Hathaway Inc, the conglomerate run by billionaire investor Warren Buffett, on Friday said first-quarter profit fell 27 percent, reflecting a big decline in investment gains. Net income fell to $4.06 billion, or $2,469 per Class A share, from $5.59 billion, or $3,401, a year earlier. Operating profit, which excludes investment and...

  • Gates and Druckenmiller said Buffet was wrong about IBM

    Warren Buffett's billionaire friends warned him in 2015 that he was wrong about IBM - and they were right.

  • Bezos makes bank after unloading a million Amazon shares

    Amazon founder and CEO Jeff Bezos sold about 1 million shares of Amazon stock in the last three days, according to a filing with the SEC.

  • *To hire 100 client advisors in Hong Kong over two years. HONG KONG, May 4- UBS Group AG plans to hire about 100 wealth management client advisors over the next two years in Hong Kong, the biggest wealth hub in Asia-Pacific, to grab a bigger share of the fast-growing mid-tier millionaire segment. "For us, the sweet spot is high-net-worth clients with investable assets...

  • AIG reported operating earnings of $1.37 billion, or $1.36 per share, compared with $765 million, or 64 cents per share, in the year-ago quarter. That easily beat Wall Street's average estimate of $1.08 per share, according to Thomson Reuters I/B/E/S. The New York- based insurer, which is the largest U.S. underwriter of commercial property and casualty policies,...

  • Tesla, led by billionaire entrepreneur Elon Musk, delivered 25,000 vehicles in the first quarter ended March 31, its highest since the carmaker went public in 2010, and a 69 percent increase from a year earlier. Tesla said it had $4.01 billion in cash and cash-equivalents as of March 31, compared with $3.39 billion at the end of the previous quarter.

  • AIG reported operating earnings of $1.37 billion, or $1.36 per share, compared with $765 million, or 64 cents per share, in the year-ago quarter. The New York- based insurer also said its board authorized an additional $2.5 billion in share repurchases, putting the company closer to its goal of returning $25 billion of capital to investors by year-end.

  • Tesla, led by billionaire entrepreneur Elon Musk, said net loss attributable to common shareholders widened to $330.3 million in the first quarter ended March 31, from $282.3 million a year earlier. On a per-share basis, net loss narrowed to $2.04 per share from $2.13 per share. Revenue more than doubled to $2.7 billion from $1.15 billion.

  • May 3- As the United States adapts to the presidency of Donald Trump and faces rising tensions abroad, Berkshire Hathaway Inc shareholders will descend on Omaha, Nebraska this weekend seeking reassurance, from Warren Buffett. The weekend known as " Woodstock for Capitalists" is unique in corporate America, a celebration of the billionaire's image and success at...

  • Chief Executive Officer Peter Hancock said on March 9 he would depart once the board found a replacement, citing a lack of confidence among directors and investors. Chairman Douglas Steenland has said AIG's board remains committed to the existing turnaround effort. "We need to know" about the impending choice of CEO, said Sandler O'Neill analyst Paul Newsome.

  • Chief Executive Officer Peter Hancock said on March 9 he would depart once the board found a replacement, citing a lack of confidence among directors and investors. Chairman Douglas Steenland has said AIG's board remains committed to the existing turnaround effort. "We need to know" about the impending choice of CEO, said Sandler O'Neill analyst Paul Newsome.

  • Chief Executive Officer Peter Hancock announced on March 9 that he would depart once the board found a replacement, citing a lack of confidence among directors and investors. Chairman Douglas Steenland has said that AIG's board remains committed to the existing turnaround effort, but analysts are doubtful over whether a new CEO would carry out Hancock's...

  • Chief Executive Officer Peter Hancock announced on March 9 that he would depart once the board found a replacement, citing a lack of confidence among directors and investors. Chairman Douglas Steenland has said that AIG's board remains committed to the existing turnaround effort, but analysts are doubtful over whether a new CEO would carry out Hancock's...

  • PRAGUE, May 2- Czech Prime Minister Bohuslav Sobotka called an extraordinary news conference for 1.30 p.m. on Tuesday to address issues related to his rival Finance Minister Andrej Babis, Sobotka's spokesman said. Ahead of an election due in October, Sobotka has demanded the billionaire former businessman Babis must explain his past financial dealings,...

  • Chief Executive Officer Peter Hancock announced on March 9 that he would depart once the board found a replacement, citing a lack of confidence among directors and investors. Chairman Douglas Steenland has said that AIG's board remains committed to the existing turnaround effort, but analysts are doubtful over whether a new CEO would carry out Hancock's...

  • NEW YORK, May 1- Carl Icahn's big bet on falling prices for biofuels credits generated a rare profit in that area last quarter for the billionaire investor's refining company CVR Energy, according to public filings. CVR Energy's refining unit posted a net gain of $6.4 million associated with the credits, a $50 million turnaround from the year-ago period when CVR...