Imagine if you were so rich, you could lose four billion dollars in one day on ketchup. That's Warren Buffett rich.
The bulti-billionaire ("multi" just doesn't do it justice) suffered - oh, the humanity - the loss when his shares in Kraft Heinz fell 25 per cent in a trice. (I threw in "trice" because I fear the word is falling into desuetude. Don't even get me started on "disquietude, assuetude" or "insuetude.")
“We were overly optimistic on delivering savings that did not materialize,” Kraft Heinz chief executive Bernardo Hees conceded on a conference call with investors, after the company announced it would slash its dividend.
Investor Warren Buffett’s Berkshire Hathaway has been particularly hard hit, losing more than $4bn in a day as shares in Kraft Heinz plunged. Kraft Heinz is one of Buffett’s largest positions, with 325 million shares at the end of 2018.So, Mr. Buffett, would you like fries with that?