Buffett doubles MasterCard stake

Buffett doubles MasterCard stake

Warren Buffett's Berkshire Hathaway has nearly doubled its stake in MasterCard over the last three months and also significantly boosted its Wells Fargo holdings.

Buffett first picked up 216,000 shares in MasterCard in the previous quarter and has built up his position to 405,000, valued at around $122 million.

Berkshire Hathaway also added 9.7 million shares in Wells Fargo, boosting its holding by 2.8%, as Buffett told the PBS TV channel: "I like buying on sale. Last Monday, we spent more money in the stock market buying than any day this year."

The billionaire has also been in the news this week for a New York Times op-ed piece, calling for more taxes on the super-rich, in which he argues: "My friends and I have been coddled long enough by a billionaire-friendly Congress. It's time for our government to get serious about shared sacrifice."

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