15:15 - 19.05.2025

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May 19, Fineko/abc.az. Well-known investor Warren Buffett got rid of his stake in crypto company Nubank, making profit of $250 million.

ABC.AZ informs that his conglomerate Berkshire Hathaway also exited Citigroup and reduced its assets in Bank of America, selling shares worth more than $2.1 billion.

Berkshire Hathaway began divesting its 402 million shares in Nubank back in 2024, selling approximately 20.7 million in the third quarter at an average price of $13.46 per share.

In the 4th quarter, the company also sold another 46.3 million shares at average price of $13.22.

In the 1st quarter of 2025, Berkshire completed the sale of 40.2 million shares at average price of $11.83. Company's total profit from the initial investment was approx. $250 million.

Warren Buffett's departure from Nubank follows company's impressive earnings in recent quarters. In the 1st quarter of 2025, its net profit was $557.2 million (47% more against the same quarter of 2024). Company's adjusted net profit reached $606.5 million (37% more than last year).

Buffett previously stated that at the end of 2025 he would leave the post of head of Berkshire Hathaway, which he had held for almost 60 years.