There’s the old Warren Buffett. The one who, in the course of the 1980s, investing in Coca-Cola beverages, razors, Gillette and the bank’s American Express, but shunned the new technology, because he did not have the competence to understand them. And then there’s the new Warren Buffett, dashing octogenarian (88 years old), who has chosen to ignore its misgivings of youth and invest in the technologies.
In reality, the Rubicon was crossed a long time ago, with an investment of nearly $ 11 billion (approximately € 9.7 billion at current prices) in IBM in 2011, and the purchase, in 2016, 5% of the capital of Apple. A stake that is now worth more than… $ 50 billion.
Today, things revved up. Berkshire Hathaway, the investment firm, Mr Buffett has recently invested about $ 600 million in two fintech : the brazilian company of payment StoneCo and Paytm, the first indian company of payment via mobile phone. In reality, these choices are not those of the patriarch Buffett, but by Todd Combs, one of the two managers of Berkshire’s portfolio. The latter has a particular expertise in the banking and payment systems. Before joining Berkshire in 2010, he ran a hedge fund specializing in finance.
Accused of promoting capitalism annuity
According to the Wall Street Journal, Paytm claims over 300 million users, which is more than Paypal. Mr. Combs has made his choice following his meeting with the founder of the company, Vijay Shekhar Sharma, in February. About StoneCo, launched in 2014, she is the fourth player in the payments industry in Brazil. Its shares were acquired during the ipo of the firm, on October 25. This is the first time that Berkshire takes a stake through an IPO. In the past, Warren Buffett was criticized…