American billionaire and investor Warren Buffett’s company Berkshire Hathaway Inc has once again sold its 25% stake in iPhone maker Apple. After this sale, Warren Buffett’s cash stock has increased to a record $325.2 billion (about Rs 27.36 lakh crore) in the third quarter. Berkshire Hathaway has given this information in a statement on Saturday (November 2). In the third quarter, the company’s stake in Apple is now $69.9 billion. In the second quarter it was $84.2 billion. Berkshire first disclosed its stake in Apple in 2016. By the end of 2021, Berkshire held 908 million Apple shares worth $31.1 billion. Buffett had also sold 50% stake in Apple three months ago. Berkshire has been a net seller of shares in the third quarter. The company has made net sales of $34.6 billion in the three months till September. Buffett had also sold about 50% of his stake in Apple three months ago. After this sale, Buffett’s cash stock had increased to $276.9 billion. In the second quarter, Omaha Nebraska-based group Berkshire’s investment in Apple was left at $84.2 billion. At the end of the first quarter, Buffett had Apple shares worth $135.4 billion. Buffett’s company had reduced its share holding in many other companies besides Apple three months ago. During the second quarter, the company sold shares worth a total of $75.5 billion. On August 28, Berkshire’s market cap reached $1 trillion. Buffett has used a part of the cash stock to repurchase some of his stocks. However, recently Berkshire’s stock had also become expensive. This year, Berkshire’s shares have increased by 25%, taking its market value to $974.3 billion. On August 28, its market cap exceeded $1 trillion for the first time. Last quarter, Berkshire refused to buy back its own stock for the first time since changing its policy in 2018. Higher losses at the Berkshire Hathaway Primary Group led to a 69% drop in underwriting earnings from the firm’s insurance business collections to $750 million from $2.4 billion a year earlier. Warren Buffett is the 6th richest person in the world According to Forbes’ Real Time Billionaire List, 94-year-old Warren Buffett is the 6th richest person in the world with a net worth of Rs 11.96 lakh crore. The list of rich people is topped by Tesla owner Elon Musk with a net worth of Rs 22.15 lakh crore.
