Wells Fargo debacle costs Buffett's Berkshire $2.5B

Posted online October 6, 2016 | 11:29 am

Warren Buffett's Berkshire Hathaway has suffered a $2.5 billion loss on its holdings in Wells Fargo over the company's phony accounts scandal.

That brings Buffett's loss for the year on Wells Fargo to $4.7 billion.

Berkshire Hathaway, the largest single holder of Wells Fargo stock, owns 10 percent of shares outstanding.

Read more from USA Today.

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