CAPE TOWN - American billionaire and business magnate, Warren Buffett reportedly said in an interview with CNBC that he admires a number of CEO's and has subsequently invested in their companies.
The businessman reportedly said that he thinks certain companies are doing especially well and that the chief executives of these companies are doing a good job.
The CEO's and companies Buffet listed are as follows:
1. Amazon CEO Jeff Bezos
Buffett reportedly told CNBC’s television program, Squawk Box anchor, Becky Quick that he is amazed by the managerial expertise that the commerce executive has.
He also reportedly expressed his admiration for Bezos and that he is more impressed when he sees all of Bezos’ accomplishments.
Buffett has since joined forces with Bezos with his company, Berkshire Hathaway, Amazon and J.P Morgan starting a joint venture to disrupt the health care industry.
2. BYD CEO Wang Chuanfu
Buffett bought a stake in Chinese manufacturer and battery company, BYD in 2008.
The Berkshire Hathaway CEO was reportedly convinced his business partner, Charlie Munger to invest in BYD.
Since then, Buffett reportedly said that Chuanfu has big ideas and he is good at executing these ideas.
3. Precision Castparts CEO Mark Donegan
Berkshire Hathaway acquired Portland, Oregon metal components maker in a $37.2 billion deal.
Although the deal has not earned him that much, Buffett regards Donegan as an extraordinary business operator, adding that Donegan built a sensational company.
4. Apple CEO Tim Cook
Buffet sold some of his shares in IBM and invested more of them in Apple, saying that Apple has an extraordinary consumer franchise.
He also added that he likes Cook very much as well as Apple’s policies.
Business Report on February 16 reported that Berkshire Hathaway reported that it had cut its stake in Big Blue by 94% during the fourth quarter, essentially drawing to a close a rare blemish on his investing record.
The move was disclosed in a regulatory filing that also showed Berkshire increased its investment in Apple, now valued at nearly R331 billion. And it initiated a new holding in Teva Pharmaceutical Industries, worth about R4.2 billion, in the final three months of last year.
Just before Berkshire’s annual meeting in May, he acknowledged that his valuation had been flawed and that he’d begun to cut back on the investment.
In a sign of his new thinking, Buffett ploughed billions of dollars into Apple starting in 2016. He added more to that investment in the fourth quarter, boosting Berkshire’s total stake in the iPhone maker by 23% to about 165 million shares.
- BUSINESS REPORT ONLINE