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Warren Buffet’s Wealth Increased $10 Billion Last Year, But None Of That Came From New Newspaper Investments -- Indeed, He Is More Negative Than Ever On The Industry’s Fate
Philip Stone March 13, 2007
For the past 15 years Warren Buffet has condemned newspapers as a business with declining growth potential, while at the same time his investments elsewhere have made him the world’s second richest man behind Bill Gates. Buffet added another $10 billion to his wallet in 2006 alone but in his annual letter to his Berkshire Hathaway shareholders he took the opportunity to lay it square on the line that the most newspaper management can hope for these days is to stem the rate of decline.
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