Buffett's investment company has sold all shares in China's BYD
Photo: Warren Buffett / EPA

Investment company Warren Buffett Berkshire Hathaway has sold its entire stake in Chinese electric car manufacturer BYD. About writes CNBC.

Berkshire acquired 225 million shares of BYD back in 2008 for $230 million at the insistence of American lawyer, economist, and investor Charlie Munger.

In 17 years, the value of the shares has increased by almost 3890%, and Berkshire's share at its peak was estimated at $9 billion.

Since 2022, the company has gradually begun to reduce its stake in BYD. By June last year, Berkshire had sold almost 76% of its stake in the Chinese electric vehicle manufacturer.

Berkshire has now officially confirmed that all BYD shares have been sold. By data Investing.com, BYD shares fell by about 3.4% after the announcement. The company's shares on the Chinese mainland market also sank by about 1.5%.

Buffett did not explain in detail the reasons for the sale, but he had previously said that he would find better ways to use the money.

Analysts attribute the decision to geopolitical risks in China, as in 2023 Berkshire also divested almost all of its shares in Taiwan Semiconductor worth $4 billion.