Buffett Invests $10.7B in IBM

Business

Updated Apr. 24, 2017 1:02PM EDT / Published Nov. 15, 2011 6:17AM EST

Warren Buffett has typically avoided tech stocks, but on Monday he made his biggest technology investment yet—and it wasn’t Apple or Google. Buffett’s Berkshire Hathaway invested $10.7 billion in IBM, taking a 5.4 percent stake in the company. The move made Berkshire Hathaway IBM’s second-biggest investor, and it paid immediate rewards, posting a 12 percent gain. Buffett went ahead with the acquisition even though IBM’s shares are trading near an all-time high; he says he’s not worried about a drop-off. The company, he told The Wall Street Journal, "fits all my principles … it's something we expect to own indefinitely."

Read it at The Wall Street Journal

Trump’s Sons Don’t Want ‘John Boltons’ in Next Admin: Report

Don Jr. and Eric Trump have reportedly taken the reigns on assembling their father’s potential White House transition team.

Billie Eilish on Masturbation: ‘People Should Be Jerking It’

“Last year, I realized I wanted my face in a vagina,” Eilish told Rolling Stone in a new interview.

NPR’s New CEO Strikes Back at Her ‘Bad Faith’ Detractors

Critics have resurfaced Katherine Maher’s past comments and questioned her objectivity.

Ex-Boeing Manager Says ‘Hustling Parts’ Got People Promoted

Merle Meyers gave 30 years of his life to the company but says he was reprimanded after sounding the alarm over employees mishandling parts.

Hackers Steal Large Sum From Anti-Trump Super PAC

The Lincoln Project said hackers set their eyes on a committee vendor, “producing authentic-looking invoices”

Several Crew Injured in Crash on Set of Eddie Murphy Film

Eddie Murphy and the film’s other stars, Keke Palmer and Pete Davidson, weren’t on the set at the time.

‘Giant’ Coyote Spotted Prowling Central Park Spooks Joggers

Brett Cohn said the animal stopped him “in his tracks” on Saturday morning.

TikTok Star Eva Evans’ Cause of Death Revealed

The 29-year-old’s death shocked friends and family, as well as her more than 300,000 followers.

Buffett Invests $10.7B in IBM