Goldman Sachs To Raise $7.5b With Buffett’s Help

This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.

The New York Sun

OMAHA, Neb. — Warren Buffett’s Berkshire Hathaway Inc. is investing at least $5 billion in Goldman Sachs Group Inc.

The announcement today from Goldman involves preferred stock that carries a dividend of 10%.

Berkshire also will receive warrants to purchase $5 billion of Goldman’s common stock with a strike price of $115 per share. The shares are exercisable at any time for a five-year term. Goldman’s shares closed at $125.05 today, up $4.27.

Goldman is also raising at least $2.5 billion in a public offering.

At last report, Berkshire had total assets of nearly $278 billion, including significant stakes in companies such as Wells Fargo & Co., American Express, and the Washington Post Co.


The New York Sun

© 2024 The New York Sun Company, LLC. All rights reserved.

Use of this site constitutes acceptance of our Terms of Use and Privacy Policy. The material on this site is protected by copyright law and may not be reproduced, distributed, transmitted, cached or otherwise used.

The New York Sun

Sign in or  Create a free account

By continuing you agree to our Privacy Policy and Terms of Use