02 May Buffet Buys Berlin
Buffet Buys Berlin
The billionaire American investor, Warren Buffett, has entered the real estate investment market in Berlin.
Buffett was rated by Forbes magazine as one of the richest Americans in 2017. His fortune was estimated at $ 81.3 billion, which puts him third on the rich list.
Buffett’s Berkshire Hathaway has signed a partnership agreement with the real estate company Rubina Real Estate, which is based in Berlin, creating a new company under the names of the two companies – Berkshire Hathaway HomeServices Rubina Real Estate.
The new company will not only focus on German buyers and investors but also those from China, India and the Middle East.
In 2017, Buffett was ranked by Forbes magazine as one of the wealthiest Americans. His fortune is estimated at $ 81.3 billion, which puts him third on the rich list. Ahead of him is Microsoft founder Bill Gates with $ 89 billion and Amazon founder Jeff Bezos with $ 81.5 billion.
Economists describe Buffett's strategy quite literally: when looking for new investments, he looks first and foremost at the expected returns.
Mr Buffet has a long history of successful investments. At the age of six, he made money buying six bottles of Coca-Cola at 25 cents and selling the bottles separately at a price of 5 cents per unit.
Buffet’s father was a stockbroker and later a member of Congress. The initial wealth of his family helped provide capital for his early investments. Since then he has been a serial investor and is regarded as one of the most successful businessmen in history.
In 1965, he used nearly all of his capital to buy Berkshire Hathaway, which today operates as an investment company all over the World. Most of Buffett and Berkshire Hathaway’s success has come from buying and selling controlling stakes in companies around the World.
Buffet’s stake in Berkshire Hathaway has been declining for many years as he gradually donates the majority of his wealth to charity. So far, the bulk of his donations have gone to the Bill and Melinda Gates Foundation.
In May last year, he invested in the German market by acquiring a 3% stake in Lanxess, a subsidiary of the chemical industry corporation Bayer. Today he holds about 5% of the shares in this publicly traded company.
Economists describe Buffett’s strategy quite literally: when looking for new investments, he looks first and foremost at the expected returns.