The coronavirus pandemic and resulting recession have been hitting everyone — including billionaire businessman Warren Buffett.
Most of the companies making up his massive conglomerate, Berkshire Hathaway Inc., felt “relatively minor to severe” effects from the COVID-19 outbreak during the spring and early summer, Berkshire’s most recent earnings report reveals.
One of Buffett’s businesses, aircraft parts maker Precision Castparts, cut 10,000 jobs and dropped in value by $9.8 billion, because people are flying less, the report indicates.
Even so, Berkshire reported an 87% jump in quarterly profits — so Buffett would seem to be weathering the crisis just fine. See what the folksy financial guru has said in public comments about how to protect your money and keep debt under control as the virus rages.