Billionaire Warren Buffett has added two more major US brands to Berkshire Hathaway Inc.’s investment portfolio.
Mr. Buffett’s conglomerate bought $ 8.6 billion in shares of Verizon Communications Inc., the largest mobile operator in the United States, and $ 4.1 billion in the oil company Chevron Corp.
It is unclear in a case whether Mr Buffett made the decision to invest in the two companies or whether the decision was made by Berkshire money managers Todd Combs and Ted Weschler. The two are expected to take over all Berkshire investments once Mr Buffett is no longer in the top job.
In the early months of the pandemic, Mr Buffett, 90, said he was optimistic that the US economy would recover in time from the Covid-19 turmoil.
“You can bet on America, but you have to be careful how you bet,” Mr Buffett said in May. “Simply because markets can do anything.”