Transactions of a lifetime: Billionaires invested more than $ 1 billion in cheaper shares

US, WASHINGTON (ORDO NEWS) — Some billionaires are actively buying stocks of companies that have fallen in price due to coronavirus. They have already paid more than $ 1 billion for the opportunity to conclude “deals of a lifetime”.

Several billionaires took advantage of the stock market crash and spent a total of more than $ 1 billion on the purchase of cheaper shares, writes Bloomberg.

The Warren Buffett Berkshire Hathaway fund, for example, bought up Delta Airlines shares, the agency said. Investor Karl Haykan has increased his share in the rental service of Hertz Global Holdings and Newell Brands, a company that owns many brands of goods.

The Rushing family, made fortune thanks to packaging giant Tetra Laval, has invested hundreds of millions of dollars in paper flavors manufacturer International Flavors & Fragrances.

M legged believe in the imminent return of the stock price to increase as anti-virus measures are amplified and shown to be effective, underlines Bloomberg. So says, for example, the founder of Pershing Square Capital Management, Bill Ekman. “These are deals of a lifetime, if you use the crisis correctly,” he wrote on Twitter.

The full list of the most optimistic richest investors includes:

  • The Rausing Family (Tetra Laval): $ 317 million at International Flavors & Fragrances;
  • The Ryman family (controlled by JAB Holding): $ 200 million in Keurig Dr Pepper;
  • Investor Carl Aikan: $ 120 million in Hertz and Newell;
  • Tammy Hughes Gustavson and Bradley Hughes: $ 108 million at American Homes 4 Rent;
  • Kelsey Warren (co-founder of Energy Transfer): $ 91 million in Energy Transfer;
  • Telecom tycoon Carlos Slim: $ 48 million at PBF Energy;
  • Investor Warren Buffett: $ 45 Million at Delta Airlines

Publicly, for example, billionaire Barry Sternlicht, the head of the Starwood Property Trust investment fund, spoke about his relatively calm attitude towards coronavirus. In an interview with Bloomberg TV, he emphasized that the situation would resemble World War III, but only for 90 days. The next day, Sternlicht bought Starwood shares for $ 2 million.

Top managers and board members also began to buy more stocks, Bloomberg notes. Earlier, the agency reported that the volume of such purchases reached a maximum since 2011. Founders or heirs of a family business often buy shares of their companies during their fall, but top managers or board members act less often, Bloomberg emphasizes.

Many of them have already received a significant portion of the salary in shares, so if they buy securities, this is done in order to demonstrate confidence in a particular company.


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