Warren Buffets firm Berkshire Hathaway announced today that it has purchased 10 million shares of General Motors stock. The company disclose the investment today in a filing with the Securities Exchange Commission. The investment by Buffets company is just a small part of GMs 1.57 billion outstanding shares however, having Warrens name behind the company should give some boost to the Detroit automakers image.
The shares would be worth $224,000,000 at todays closing price of $22.40. up 98 cents.
Buffett has no plans to purchase stock in Facebook.