Warren Buffett Invests $2.6 Billion in Paramount Global

Warren Buffett’s Berkshire Hathaway has acquired a stake in Paramount Global after purchasing $2.6 billion in Class B shares.

According to an SEC filing, Berkshire Hathaway acquired almost 69 million shares of Paramount Global during the first quarter. It also purchased a $2.9 billion stake in giant Citigroup. Berkshire’s top holding in its portfolio is Apple.

Paramount Global stock remains majority controlled by Shari Redstone and the Redstone family’s National Amusements.

Paramount shares are up more than 10 percent, at nearly $31, at market open today.