Warren Buffett reportedly tried to invest in Uber

Warren Buffett reportedly offered to invest about $3 billion in Uber this year, but negotiations fel...

Posted: May 31, 2018 3:17 PM
Updated: May 31, 2018 3:17 PM

Warren Buffett reportedly offered to invest about $3 billion in Uber this year, but negotiations fell apart.

Bloomberg first reported the news on Wednesday, attributing the revelation to unnamed sources. Buffett later told CNBC that his company Berkshire Hathaway "had discussions with Uber."

Uber declined to comment for this story, and Berkshire Hathaway could not immediately be reached for comment.

An endorsement from Buffett may have been particularly helpful for Uber as it works to reform its image following allegations of a culture of sexism and harassment within the company.

Buffett told CNBC that he's a "great admirer" of Uber's new CEO Dara Khosrowshahi, who took over last year amid the turmoil.

Interest from the famed investor offers a boost to companies.

When Buffett recently told CNBC that his company bought about 75 million shares of Apple stock during the first three months of the year, Apple stock climbed 4%. That day, the company closed at an all-time high.

Buffett said that Apple is "an amazing business" and an "unbelievable company."

In February, when Berkshire took a $358 million stake in Israeli drugmaker Teva Pharmaceutical, shares of the company spiked 7%.

Related: Warren Buffett just bought a ton more shares of Apple

Investors also pay attention when Buffett unloads stock. Recently, he sold off shares in GE and IBM.

An investment in Uber would have been notable in part because Buffett was relatively late to investing in Apple and tech stocks overall.

The startup said last week that it posted a $2.5 billion profit in the first quarter after years of mounting losses. However, the impressive figure was almost entirely the result of Uber ceding two of its operations abroad to rivals.

Buffett didn't report his first purchase of Apple shares until two years ago, when he bought 9.8 million shares of the company's stock. He has added to those holdings since. Apple is now one of Berkshire's largest holdings.

- CNN's Chris Isidore and Seth Fiegerman contributed to this report.

Lafayette
Clear
46° wxIcon
Hi: 46° Lo: 28°
Feels Like: 40°
Kokomo
Clear
41° wxIcon
Hi: 44° Lo: 28°
Feels Like: 31°
Rensselaer
Clear
41° wxIcon
Hi: 43° Lo: 24°
Feels Like: 33°
Lafayette
Clear
46° wxIcon
Hi: 44° Lo: 26°
Feels Like: 40°
Danville
Clear
44° wxIcon
Hi: 45° Lo: 27°
Feels Like: 37°
Frankfort
Clear
45° wxIcon
Hi: 47° Lo: 28°
Feels Like: 36°
Frankfort
Clear
45° wxIcon
Hi: 45° Lo: 27°
Feels Like: 36°
Monticello
Clear
43° wxIcon
Hi: 45° Lo: 28°
Feels Like: 35°
Monticello
Clear
43° wxIcon
Hi: 45° Lo: 28°
Feels Like: 35°
Logansport
Clear
41° wxIcon
Hi: 44° Lo: 27°
Feels Like: 31°
Windy, But Warmer For Thursday
WLFI Radar
WLFI Temps
WLFI Planner

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 598313

Reported Deaths: 9529
CountyCasesDeaths
Marion826311317
Lake44778676
Allen32331543
Hamilton28818314
St. Joseph27014378
Elkhart24244343
Vanderburgh19012243
Tippecanoe17701128
Johnson14748289
Porter14574166
Hendricks14074244
Madison10768217
Vigo10584177
Clark10428136
Monroe9222109
Delaware8982134
LaPorte8925159
Howard8061141
Kosciusko796782
Warrick657997
Hancock653599
Bartholomew634097
Floyd6270108
Wayne6037159
Grant5893112
Dubois549477
Boone542267
Morgan526294
Henry500764
Marshall497784
Cass477062
Dearborn467645
Noble466157
Jackson419146
Shelby408180
Lawrence385777
Clinton368240
Gibson362659
DeKalb341364
Montgomery338953
Harrison335343
Knox331339
Miami315744
Steuben309844
Whitley299825
Adams297835
Wabash297747
Ripley294945
Putnam290347
Huntington287559
Jasper286234
White269839
Daviess264773
Jefferson255838
Decatur244382
Fayette243948
Greene237062
Posey235227
Wells232247
LaGrange226061
Clay219932
Scott219538
Randolph210445
Jennings195335
Sullivan190033
Spencer185819
Fountain180827
Washington180222
Starke173943
Jay164822
Owen161737
Fulton161430
Carroll154515
Orange153433
Rush152318
Perry149727
Vermillion146733
Franklin145533
Parke12988
Tipton129532
Pike114626
Blackford109522
Pulaski95637
Newton89921
Brown86533
Benton85410
Crawford7769
Martin71013
Warren6637
Switzerland6325
Union6166
Ohio4747
Unassigned0375

COVID-19 Important links and resources

As the spread of COVID-19, or as it's more commonly known as the coronavirus continues, this page will serve as your one-stop for the resources you need to stay informed and to keep you and your family safe. CLICK HERE

Closings related to the prevention of the COVID-19 can be found on our Closings page.

Community Events