Well-known Billionaire investor and Cadillac XTS-owner Warren Buffett is ready to buy in Detroit and remains bullish on the future of General Motors with CEO Mary Barra at the helm. His sense is GM and Detroit are on a positive path and he is pretty impressed with Mary.
Talking at a Detroit Homecoming event, the “Oracle of Omaha” was joined by Quicken Loans founder and fellow billionaire Dan Gilbert – a long-time friend of Buffett’s. During the event, Gilbert posed questions to Buffett about Detroit and the state of GM. As a 2 percent stake holder in GM, Buffett has a desire to see the company succeed.
“Mary is a real car guy,” Buffett said during the conversation, according to Crain’s Detroit Business. “I was enormously impressed with her.”
Where many investors are wary of investing into General Motors, Buffett’s Berkshire-Hathaway doubled-down in 2013, increasing stake from 10 million to 25 million shares of GM stock.
If you can spare an hour, the full conversation is just below: