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How many Amazon shares does billionaire Warren Buffett own?

How many Amazon shares does billionaire Warren Buffett own?
How many Amazon shares does billionaire Warren Buffett own?

Given his general disdain for technology stocks, Warren Buffett is a surprisingly big fan of Amazon.

Before the 2000s, Warren Buffett was known for his general disdain for technology stocks. During the dot-com bubble in 1999, he warned (rightly) that most internet start-ups would eventually fail. This warning reportedly resonated with Amazon (AMZN 0.14%) Founder Jeff Bezos. “(Bezos) changed his method of running the company,” says Milton Berg, a former adviser to George Soros and Stanley Druckenmiller. “He didn’t want Buffett to be right.”

More than two decades later, Amazon is still in business and has grown into one of the largest companies in the world with a market capitalization of $2.1 trillion. As for Buffett, he eventually adjusted his views on technology stocks, and his holding company Berkshire-Hathaway (BRK.A -0.22%) (BRK.B 0.08%) owns several technology stocks and has become one of Amazon’s largest shareholders.

Buffett relies heavily on Amazon

According to recent 13F filings, Berkshire’s publicly traded portfolio includes about 40 stock holdings. Amazon is the 17th largest holding on the list, with a total stake of 10 million shares valued at about $1.8 billion. That represents 0.1% of Amazon’s total share count. Berkshire has owned Amazon shares since the first quarter of 2019. Since then, the stock price has more than doubled.

Berkshire’s original stake was worth about $860 million. According to Buffett, the investment was initiated by one of his deputies, either Todd Combs or Ted Weschler. At the time, Buffett jokingly added that he was “an idiot” for not initiating the investment himself. The share price increases have contributed most to Berkshire’s growing stake in Amazon, but the company has not stayed true to its investment. It sold some Amazon shares just last summer when it reduced its stake by 550,000 shares.

John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Ryan Vanzo does not own any of the stocks mentioned. The Motley Fool owns positions in and recommends Amazon and Berkshire Hathaway. The Motley Fool has a disclosure policy.

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