Warren Buffett Buys 10 Million General Motors Shares

Warren Buffett might be 81 years of age now, but when the Omaha oracle speaks, the world tends to listen... or at least discuss what he did and shrug it off as an investment that’s too long term for them.
GM on Wall Street 1 photo
Photo: GM
But nobody will be able to shrug off the fact that his famous investment firm Berkshire Hathaway has bought 10 million shares of General Motors. That would be the new GM with profit and without all that debut burdening it.

Berkshire said the shares were purchased for a total of $256.6 million, which is over their current market valuation of $214.2 million, according to USA Today.

It’s not clear if this is a company bet or one made by one of their clients. However, 10 million is only about 0.63% of the total GM number of shares.

Buffett is known for making long term investments in companies which he sees as being invaluable for the economy and undervalued in terms of assets or potential.
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About the author: Mihnea Radu
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Mihnea's favorite cars have already been built, the so-called modern classics from the '80s and '90s. He also loves local car culture from all over the world, so don't be surprised to see him getting excited about weird Japanese imports, low-rider VWs out of Germany, replicas from Russia or LS swaps down in Florida.
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