Warren Buffett's $1.2 billion share buyback from a single unnamed investor likely helped that person's estate save substantially on taxes, just one day after the Berkshire Hathaway CEO said the rich should actually be paying more, not less, when they die.With the "fiscal cliff" looming and estate taxes set to rise dramatically in less than three weeks, the timing was seen as advantageous - and, according to Berkshire watchers, also out of place in the context of Buffett's recent tax activism."I would say 'Warren, would you please just keep your nose out of this.' He's not in a position to criticize what's good for America and for everyone else's estate," said Anthony Sabino, a professor of business at St. John's University. "He's no doubt utilized the present tax code to maximum effect."Berkshire said it bought 9,200 Class A shares from "the estate of a long-time shareholder," whom it did not name, at $131,000 per share, a price in line with where Berkshire has traded in recent weeks.
Berkshire Hathaway Inc. (Berkshire) is a holding company owning subsidiaries engaged in a number of diverse business activities. Shares of BRK-A traded higher by 2.45% or $3201.0/share to $134032.00. In the past year, the shares have traded as low as $110741.00 and as high as $136345.00. On average, 56408 shares of BRK-A exchange hands on a given day and today's volume is recorded at 3156.
Berkshire Hathaway Inc. (Berkshire) is a holding company owning subsidiaries engaged in a number of diverse business activities. Shares of BRK-B traded higher by 2.43% or $2.12/share to $89.39. In the past year, the shares have traded as low as $73.73 and as high as $90.93. On average, 4383050 shares of BRK-B exchange hands on a given day and today's volume is recorded at 9232151.
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