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Warren Buffett’s hat-trick of woe: Billionaire loses $1bn as Coca-Cola, IBM and Tesco share prices crash
Billionaire investor Warren Buffett lost $1bn yesterday after shares in his second biggest investment Coca-Cola crashed to a six-year low, capping a torrid week for the 84-year old after similar misfortunes with IBM and Tesco.
Buffett’s 400m shares in the soft drinks firm fell $2.61 each, reducing the value of his holding by $1.1bn after it reported poor sales. On Monday, Buffett saw another $1bn evaporate from his holding in computer giant IBM after his 70m shares fell in value.
Buffett, considered one of the world’s canniest investors, last week also admitted making a “huge mistake” by holding shares in Tesco, down 20 per cent over the month.