Finally, The Secrets Were Revealed, Warren Buffet Spent Rp106.66 Trillion Acquisition Of Chubb

Warren Buffett (Photo: Forbes)

JAKARTA - Warren Buffet's Berkhsire Hathaway leaked about share ownership in insurance company Chubb. This investment secret has been detained since late last year.

Launching CNN Business, Thursday, May 16, his party acquired nearly 26 million Chubb shares in the investment budget for the first quarter of 2024 to the Securities and Exchange Commission (SEC) on Wednesday, May 15. This shows the value of approximately US$6.7 billion, equivalent to Rp106.66 trillion (exchange rate of Rp15,920 per US dollar).

The company owned by Buffett has kept this action a secret from public knowledge while buying Chubb's shares. Even asked the SEC to keep its transactions a secret in its submission.

Chubb, an insurance business operating in 54 countries, made headlines in March after the company bears nearly $92 million worth of President Donald Trump's appeal bond in a defamation lawsuit filed by E. Jean Carroll.

Buffett, CEO of Berkshire, who is known for his investment prowess, has gathered many investors who imitate his portfolio movement. Berkshire Hathaway shares in Chubb are no exception. Chubb's shares jumped more than 8 percent in trading after working hours on Wednesday, May 15.

Buffett's stakes on Chubb are common: the insurance company Geo, National Indemnity, and General Re are all subsidiaries of Berkshire Hathaway.

Investment in Chubb confirms Berkshire Hathaway's investment strategy over the past few months. It seems that this has doubled its investment in financial companies such as Ally Financial, American Express and Bank of America while cutting its investment in consumer products.

In February, Berkshire revealed that it sold 10 million Apple shares in the first three months of this year, although Apple remains Berkshire's biggest investment. Berkshire also sold 80 million shares of the HP printer company in the fourth quarter of 2023, reducing its holdings by 78 percent.