Legendary Investor Warren Buffett Reducing Stake in Chinese Company BYD
Legendary American investor Warren Buffett is reducing his stake in the Chinese company BYD, one of Tesla’s main competitors. Berkshire Hathaway, Buffett’s financial conglomerate, has sold an additional 1.3 million BYD shares on the Hong Kong Stock Exchange for over $39.8 million. As a result, Berkshire Hathaway’s stake in BYD has decreased from 7% to 6.9%.
