Industrials
On Berkshire: Loses AAA, Buffett Salary & No AIG (BRK-A, AIG)
Published:
Last Updated:
There has been quite a lot of news on Berkshire Hathaway Inc. (NYSE: BRK-A) and Warren Buffett in the last 12 hours. Bond and credit ratings agency Fitch downgraded the conglomerate. Buffett also outlined how he refused to invest in or rescue American International Group Inc. (NYSE: AIG).
Fitch downgraded Berkshire Hathaway, Inc. (NYSE: BRK-A) Issue Default Rating to ‘AA+’ from the top AAA; and senior unsecured debt ratings to “AA” from “AAA.” Fitch did reaffirm Berkshire’s Insurer Financial Strength at “AAA” at its insurance units and subsidiaries. The rating outlook for all entities is now “Negative” as the ratings agency cited concerns over the loss potential on insurance equity and derivatives.
It also looks like the Oracle of Omaha took a $100,000 salary. When you come in at #2 in the world’s billionaires list on Forbes, who needs a salary?
Buffett also told Bloomberg in another interview that he also was given the opportunity twice to invest in (rescue) American International Group Inc. (NYSE: AIG) but he refused. He merely noted that the insurer needed more than what he could provide.
On top of Buffett defending and explaining many of his positions early this week in a long CNBC interview, it has been a pretty active week at the insurance giant and conglomerate.
Jon C. Ogg
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
