Warren Buffett walks the floor ahead of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2024.\u00a0<\/p>\n
David A. Grogen | CNBC<\/p>\n<\/div>\n<\/div>\n<\/div>\n
OMAHA, Neb. \u2014 Warren Buffett revealed that he dumped Berkshire Hathaway’s entire Paramount<\/a><\/span><\/span><\/span> stake at a loss.<\/p>\n “I was 100% responsible for the Paramount decision,” Buffett said at Berkshire’s annual shareholder meeting. “It was 100% my decision, and we’ve sold it all and we lost quite a bit of money.”<\/p>\n Berkshire owned 63.3 million shares of Paramount as of the end of 2023, after cutting the position by about a third in the fourth quarter of last year, according to latest filings.<\/p>\n Berkshire first bought a nonvoting stake in Paramount in the first quarter of 2022. Since then the media company has had a tough ride, experiencing a dividend cut, earnings miss and a CEO exit. The stock declined 44% in 2023 and another 12% in 2023.<\/p>\n