In his annual letter to stakeholders in February, Warren Buffet said that he was struggling to find good ideas to invest in, but his conglomerate revealed that it had dramatically raised its stake in Chevron.
Warren Buffet, Chairman and CEO of the company, speaks during a game of bridge. In this file photo, a person is standing.
The company has a lot of trouble finding good ideas to invest in, especially in the U.S., according to Warren Buffet.
While he will pay any price, and climb any hills to find new investments, he prefers companies to approach him.
In its first-quarter earnings filing, the oil giant showed that it has significantly increased its stake in Chevron, making it its fourth largest equity holding by value.
At the end of March, Chevron shares were worth $25.9 billion, up from a $4.5 billion stake three months prior, as oil prices surged following Russia's invasion of Ukraine.
Apple, Bank of America, and American Express were the three largest investments of the company, according to the filing.
The stock price of the company has gone up as energy prices have gone up, and now has 15% of the stock owned by Warren Buffet.
During the annual meeting, Charlie Munger, 98, warned against new forms of money. Although he did not specifically mention cryptocurrencies, he said that he believes it is the only thing and that he will always have a lot of cash on hand.
He claimed that he would be better than the banks at extending credit lines to companies in times of need. If the economy stops, he wants to be in a position to operate.
$116 billion. According to a real-time wealth tracker by Forbes, he is the sixth richest person in the world.
With its market cap topping $700 billion earlier this year, it's not yet certain if the company will become a trillion-dollar company in the next few years.
Here's how his top holdings have performed this year in the brutal market.
Warren Buffet has a market valuation of $700 billion.
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