Warren Buffett Is Now the Biggest Shareholder of Two Massive Banks

Warren Buffett Is Now the Biggest Shareholder of Two Massive Banks

The most important person in the bank industry isn't a banker -- it's Warren Buffett, the chairman and CEO of Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B).

He cemented that role this week, by exercising warrants Berkshire Hathaway held to buy 700 million shares of Bank of America (NYSE: BAC). Berkshire is now the biggest shareholder of the nation's second-largest bank by assets.

Data source: Nasdaq. Chart by author.

Continue reading

Source: Fool.com