NU - Crypto-Friendly Nubank Rockets Berkshire Hathaway's Returns With A 93% Gain: Report | Benzinga
Warren Buffett‘s Berkshire Hathaway (NYSE:BRK) (NYSE:BRK) has seen a 93% increase in the value of its stake in Nu Holdings (NYSE:NU) since January, making Nubank the star performer in Berkshire’s 2023 portfolio.
According to a report by Business Insider, the conglomerate initially invested $500 million in Nubank in June 2021 and added roughly another $250 million when the bank went public in December 2021. As of June this year, Berkshire owned about 107 million shares of the digital lender, which was worth $845 million at the time.
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Despite a 13% slide from its IPO price of $9, Nubank has shown promising operational growth. The bank’s customer count rose by 28% to 84 million, and its revenue increased 61% to approximately $1.9 billion from June last year ...