Warren Buffett owes it to shareholders of his Berkshire Hathaway Inc. to vote against Coca-Cola Co.’s executive-compensation plan, said David Winters, a money manager who controls stakes in both companies.
Ruane Cunniff & Goldfarb Inc., managers of the Sequoia Fund Inc., made a paper profit of about $300 million today on shares of Valeant Pharmaceuticals International Inc., bringing its gain on the investment to approximately $3.8 billion since it first bought the stock in 2010.
Rajat Gupta, the former Goldman Sachs Group Inc. director convicted in a 2012 insider trading scheme tied to the Galleon Group LLC hedge fund, agreed to surrender to prison authorities on June 17 to begin a two-year sentence, a federal judge in Manhattan said.
Charles and David Koch, the billionaire brothers who run Wichita, Kansas-based Koch Industries Inc., added $1.3 billion to their collective fortune yesterday on reports that U.S. industrial production gained more than forecast. The surge elevated their net worth to more than $100 billion, according to the Bloomberg Billionaires Index.
Berkshire Hathaway Inc. will sell rubber ducks of Chairman Warren Buffett and Vice Chairman Charles Munger wearing Mexican-themed outfits at the company’s annual meeting, which falls two days before Cinco de Mayo.
Aon Plc, the broker that was criticized by Lloyd’s of London for a deal with Warren Buffett’s Berkshire Hathaway Inc., said the relationship actually helps make the U.K. insurance market more attractive.