Money and Business

Warren Buffett’s big bet on United Airlines could be costing him millions

By Tomi Kilgore Market Watch  Warren Buffett probably cringed more than most when he saw the video of a passenger being dragged off a United Airlines plane, because it could be costing him millions of dollars.

The famed billionaire investor’s Berkshire Hathaway Inc. BRK.B, -0.39%  became the largest shareholder by far of the United parent’s United Continental Holdings Inc.UAL, -0.37%  at the end of last year. Berkshire bought about 24.42 million United shares during the fourth quarter, to bring his stake to 28.95 million shares, or 9.2% of the shares outstanding, according to the latest filings with the Securities and Exchange Commission.
With United’s stock falling 81 cents, or 1.1% on Tuesday, Buffett could be losing about $23.5 million, if his holding remained unchanged. At the intraday low of $68.36, the stock was down $3.16, or 4.4%, and Buffett was losing $91.5 million.

With United’s stock falling 81 cents, or 1.1% on Tuesday, Buffett could be losing about $23.5 million, if his holding remained unchanged. At the intraday low of $68.36, the stock was down $3.16, or 4.4%, and Buffett was losing $91.5 million.

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