Warren Buffett Holding Completes Quarter with Record Losses

Berkshire Hathaway, an American holding company led by billionaire Warren Buffett, reported losses of $49.7 billion at the end of the first quarter of 2020. This is stated in the published corporate reporting. The holding lost barely $50 billion amid the spread of coronavirus. It is about net losses for three months, from January 1 to March 31 of the current year. In 2019, during the same period, the holding made a profit of $21.7 billion. Berkshire Hathaway had not previously reported such large losses, CNBC and CNN said. The report notes that the losses of the holding are related to the restrictions imposed by the authorities and business in connection with the pandemic. According to the news agency, Berkshire Hathaway has sold off existing shares of American airlines. Read also: Billionaire Buffett's holding got rid of US airline shares