Warren Buffett Sells 63.3M Shares of Paramount, Admits Significant Loss

May 4, 2024, 08:10 PM

Warren Buffett announced that Berkshire Hathaway has completely divested its stake of 63.3 million shares in Paramount, resulting in a significant financial loss. Buffett clarified that the decision to buy and subsequently sell the shares was solely his, dismissing any speculation about the involvement of Berkshire executives Todd Combs or Ted Weschler. He emphasized his full responsibility for the investment decision and acknowledged the loss as part of the business.