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Amazon shares jump on Buffett investment

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Buffett's investment in Amazon gave the stock price a healthy boost as the billionaire investor finally gets in on the tech giant.

NEW YORK: Amazon shares jumped early on Friday after Warren Buffett revealed his Berkshire Hathaway had bought shares of the online retailer and technology juggernaut.

Buffett hired investment managers Todd Combs and Ted Weschler in 2010 and 2012 to manage stock portfolios of more than US$13 billion for Berkshire. Berkshire also has subsidiaries in a broad range of sectors, including insurance, freight rail transportation and electric utilities.

 

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