Warren Buffet: Set to buy a small Stake in Paytm

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Warren Buffet: Set to buy a small Stake in Paytm
Warren Buffet: Set to buy a small Stake in Paytm

Warren Buffet’s Berkshire Hathaway Inc. is ready to pick up a small stake in One97 Communications Ltd.

Warren Edward Buffet 87 years old American businessmen, serves as a CEO of Berkshire Hathway who is considered as a most successful investor in the whole world as he acquires a net worth of 84 billion U.S Dollars which makes him the third wealthiest person in the world.

He is also known as “Oracle of Omaha” as his company Berkshire Hathway owns more than 60 companies which include Duracell, Dairy Queen, Geico, etc. He is the man who has committed to giving 99% of his wealth to charity and so far he has given around $32 billion and most of it to the Gates Foundation.

Now, Warren Buffet has decided to buy a small stake in One97 which is the parent company of Paytm, which makes it the first billionaire investor to invest in an Indian Company. This deal is to be announced within two weeks and it will also be Berkshire’s first investment in a private technology in the world.

Warren Buffet: Set to buy a small Stake in Paytm
Warren Buffet: Set to buy a small Stake in Paytm

Berkshire Hathway did set up in India in 2011 and also partnered with Bajaj Alliance to sell insurances. Then after two years, Berkshire exited the partnership.

By now, Paytm has already a strong capital with global investors also. Now, Paytm claims that they have already touched a monthly gross of $4 billion.

In the past, Berkshire Hathaway has already invested in some tech companies like International Business Machines Corp. (IBM) and Apple. Recently Berkshire exited IBM, but still owns stock of Apple.

Would this deal be favorable to Buffet like always? Share with us in the comments section below.

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