Warren Buffett’s continued disposals of Bank of America Corp. shares have now covered the billionaire’s investment cost, leaving him with a more than $34 billion stake that’s pure profit.
In a round of transactions disclosed in a filing Thursday, Buffett’s Berkshire Hathaway Inc. sold $896 million of the stock this week. That means total proceeds from share disposals since mid-July and dividends earned since 2011 have surpassed the $14.6 billion that the conglomerate spent to build its stake in the second-largest US bank.
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