Warren Buffett loses $2 billion in two days

While the thought of losing $2 billion in two days frightens most people, it’s all in a week’s work for Warren Buffett.

The Berkshire Hathaway (NYSE: BRK.A) owner is heavily invested in myriad companies from auto dealers to real estate firms and community newspapers, but when you play the stock market, it comes with its ups and downs.

When Coca-Cola Co. (NYSE: KO) stock fizzled 6 percent Tuesday on less than expected earnings, Buffett took a $1 billion hit.

CNNMoney reports Coke is one of Buffett's largest investments. He holds 400 million shares and his son Howard sits on the beverage company's board. And he likes the products too. Buffett is often seen enjoying Cherry Coke.

Buffett is down another $1.3 billion as IBM (NYSE: IBM) stock slid 7 percent, down 13 percent for the year. He holds 70 million shares.

But don’t worry too much about the Oracle of Omaha; he’s still the second wealthiest person in America with an estimated net worth of $66.9 billion — make that $64.9 billion after this week.

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