Here's How Much Warren Buffett Has Made on Wells Fargo
In his 54 years running Berkshire Hathaway (NYSE: BRK-A)(NYSE: BRK-B), thousands of people have become millionaires by buying shares and then sitting on their hands while he turned the former textile manufacturer into one of the most-profitable holding companies on Earth. As of this writing, Berkshire owns dozens of subsidiaries that earn tens of billions of dollars a year, and has a market capitalization of nearly $560 billion. Yet Buffett is best known for his skill as a great stock picker, and deservedly so. A massive portion of Berkshire's market value is derived from its roughly $215 billion stock portfolio. It depends on what you're measuring; on a cost basis, Berkshire's Wells Fargo stake has roughly doubled in value, netting about $11 billion in unrealized gains. However, that doesn't tell the entire story, including how much value Wells delivers to Berkshire's coffers in the form of its generous dividend. How much Buffett paid, and what it's worth now. While we don't know from day to day how many shares of Wells Fargo Berkshire Hathaway owns, we do get an update each quarter, when it files its Form 13F with the SEC, listing its stock holdings. As of the end of September, Berkshire owned 378,369,018 shares of Wells. In 2019, Wells Fargo raised its quarterly payout to $0.51 per share.