What Percent of Bank of America Does Warren Buffett Own?
Thanks to a savvy investment made by Warren Buffett several years ago, Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) recently became the largest shareholder in Bank of America (NYSE: BAC). The Buffett-led conglomerate owns 700 million shares of the banking giant. Let's look at the percentage of Bank of America that Buffett owns, and review how the Oracle of Omaha came to be Bank of America's biggest investor.
As I mentioned, Berkshire Hathaway recently acquired 700 million shares in Bank of America. At the end of 2017's second quarter, there were a total of 9.88 billion shares outstanding, which makes Buffett's stake roughly 7% of the total.
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