Berkshire Hathaway Is Buying an IPO for the First Time Ever
Warren Buffett, the billionaire investor who controls most of Berkshire Hathaway's (NYSE: BRK.A)(NYSE: BRK.B) stock portfolio, has traditionally avoided IPOs. In fact, the last time Buffett participated in an initial public offering, Dwight Eisenhower was the president of the United States.
However, we just learned that Berkshire Hathaway has committed to invest more than half a billion dollars of its capital in an upcoming IPO. Here's what we know, why this is such an unusual move for Berkshire, and whether Buffett or someone else at Berkshire is behind the deal.
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Source Fool.com
