Warren Buffet Bought Nubank Shares-Warren Buffet, the Oracle of Omaha, the CEO of Berkshire Hathaway, add its stock collection in Digital Bank. That digital bank is Nubank. Nubank is a Brazilian-based digital bank that has a primary office in Sao Paolo, Brazil. Historically, it was founded on May 6th, 2013, by David Velez, Edward Wible, and Cristina Junqueira. From time to time, with the development of its business and technology, Eubank become one of the largest fintech banks in Latin America with 3,700 employees. On December 9, 2021, Nubank officially conducted an initial public offering (IPO) on the New York Stock Exchange (NYSE), with a market capitalization of around US$ 45 billion.
Through Berkshire Hathaway, he finally bought around thirty million shares at the IPO price at $9. Overall, he invests in this bank around $270 million. Besides Berkshire Hathaway, some investors have poured out their money into this company. Some of them are Sequoia Capital, Founders Fund, Kaszek Ventures, Tiger Global Management, Goldman Sachs, QED Investors, and DST Global.
The investment in Nubank, also adds the collections of financial stock in Berkshire Hathaway’s portfolio. Berkshire Hathaway also has a percentage of share in some financial institutions, namely the US. Bancorp, Bank Of America, Geico, American Express, The Bank of New York Mellon Corp, and some financial institutions.
Warren Buffet still becomes one of the influential people in the world in relation to investment sectors. Through Berkshire Hathaway, he showed his ability in picking stock and invest in multiple companies around the world. Based on the Forbes Database in 2020, the total net worth of Warren Buffet is around 113,8 billion US dollars. His investment philosophy is affected by Benjamin Graham. The Father of Value Investing and the author of some investment books, namely The Intelligent Investors, Security Analysis, and The Interpretation of Financial Statement.
Bibliography of Warren Buffet Bought Nubank Shares
Forbes. 2022. Warren Buffet. Accessed via https://www.forbes.com/profile/warren-buffett/?sh=2202ab884639 on February 21st, 2022.
Business insider. 2021. Warren Buffett’s Berkshire Hathaway plowed about $250 million into Nubank’s IPO, report says. The Brazilian fintech’s ties to Sequoia Capital may help explain why. Accessed viahttps://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-nubank-stock-ipo-sequoia-capital-munger-2021-12 on January 21st, 2022.
Wikipedia. 2022.Nubank. Accessed via https://en.wikipedia.org/wiki/Nubank on January 21st, 2022