Buffett's firm scores big with stake in Activision Blizzard
ABC News
Warren Buffett’s company placed a rare bet on a technology company late last year and it has already paid off in a big way
OMAHA, Neb. -- Warren Buffett's company placed a rare bet on a technology company late last year and it has already paid off in a big way.
Berkshire Hathaway revealed in documents filed with regulators on Monday that it bought near 15 million shares in game publisher Activision Blizzard during the last three months of 2021.
The purchase came not long before Microsoft's announcement in January that it was acquiring Activision for $68.7 billion, sending the stock soaring. Activision's shares are up 22.5% so far this year.
Berkshire estimated that its 14.7 million shares in Activision Blizzard, the maker of Candy Crush and Call of Duty, were worth roughly $975 million at the end of 2021. At the close of trading Monday, they were worth $1.19 billion.
