Skip to content
Subscriber Only

Buffett's Berkshire Stung as Kraft Heinz Bet Drops to Record Low

  • Berkshire’s stake falls to $8.5 billion as shares drop
  • That leaves a $5 billion gap between fair and carrying value
Warren Buffett

Warren Buffett

Photographer: Christopher Goodney/Bloomberg

The good news: Berkshire Hathaway Inc. finally has a handle on how Kraft Heinz Co.’s business is performing after months of silence. The bad news: a big writedown for Warren Buffett’s company may be coming.

Kraft Heinz shares plunged to a record low after reporting that profit slipped 15% in the company’s home market. That leaves Berkshire’s 27% stake worth $8.5 billion, well below the $13.5 billion it has Kraft Heinz marked on its books.