Warren Buffett's 'big mistake' ends up in bankruptcy court
Warren Buffett's 'big mistake' ends up in bankruptcy court
Bill Gates-funded battery startup Aquion Energy files for bankruptcy
Bill Gates-funded battery startup Aquion Energy files for bankruptcy
Mark Cuban Stake in the Weinstein Co. Disclosed in Bankruptcy Filing
Mark Cuban Stake in the Weinstein Co. Disclosed in Bankruptcy Filing
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1. Gates was one of the investors in this company. He didn't own it or control it.
Cash-strapped Aquion Energy Inc., an innovative battery storage startup backed by Bill Gates and other high-profile investors, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court of the District of Delaware and laid off 80% of its workforce, the company disclosed March 8.
2. Buying Berkshire Hathaway
Warren Buffett’s failures: 15 investing mistakes he regrets
In a 2010 interview with Becky Quick on CNBC, Warren Buffett said the dumbest stock he ever bought was — drum roll, please — Berkshire Hathaway.
Buffett explained that he first invested in Berkshire Hathaway in 1962 when it was a failing textile company. He thought he would make a profit when more mills closed, so he loaded up on the stock. Later, the firm tried to chisel Buffett out of more money. A spiteful Buffett bought control of the company, fired the manager and tried to keep the textile business running for another 20 years. Buffett estimated that this vindictive move cost him $200 billion.
The investment advice here is not to let emotions factor into financial decisions.
Buffett did gain controlling interest in Berkshire Hathaway.when it was a textile company but didn't
found it or run it personally. Obviously, he pivoted it into a very successful holding company for
his other ventures.
Berkshire Hathaway | Overview, History, & Facts
An investment group led by Buffett took full control of the company in 1965. Berkshire Hathaway liquidated its textile operations in 1985, by which time it was well-established as a holding company for Buffett’s other investments and corporate acquisitions.
I don't think either one of these situations represents the same kind of personal involvement that Trump had in his bankrupted companies.
I didn't look at Mark Cuban but the statement that "Every wealthy business person has bankruptcies" is simply not true.