Warren Buffett Sees $11 Billion Boom On Donald Trump Win

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For someone who backed Hillary Clinton in the presidential election, Warren Buffett has done just fine so far with a Donald Trump victory, CNBC reports. The multibillionaire head of Berkshire Hathaway has seen his investment portfolio explode in the days since Trump’s stunning upset Nov. 8.

Buffett has benefited particularly well from the myriad financial holdings he holds in the company’s portfolio. Bank stocks have surged┬ásince Trump’s win, on anticipation of higher rates and less regulation of Wall Street.

Warrants that Buffett purchased back in 2011 giving him the rights to buy 700 million Bank of America shares for $7.14 each also have surged in value as the stock has jumped 15 percent. The total increased value is about $3 billion, putting his take at more than $11 billion in the post-election period.

Here’s a look at how Buffett has done in the post-election environment:

Buffett’s big bank bonanza:
Company
Share total
11/9 open
11/21 close
Profit ($)
Wells Fargo 506,308,470 46.33 52.12 2,931,526,041
American Express 151,610,700 67.16 71.54 664,054,866
USBancorp 85,063,167 45.45 49.28 325,791,929.61
Goldman Sachs 10,959,519 185 211.08 285,824,255.52
M&T Bank 5,382,040 125.45 141.06 84,013,644.40
Bank of New York Mellon 21,136,712 43.97 47.42 72,921,656.40
Source: S&P Capital IQ

CNBC.COM

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