Buffett is the third richest man in the world, in case you’re wondering.
A consortum of several entities including Gilbert’s are attempting to acquire the company’s internet assets. These assets are up for auction and though there’s no guarantee they’ll even win the bid, having Buffett on your team certainly helps (note: Gilbert is also a billionaire). Buffett is CEO of Berkshire Hathaway, a multinational conglomerate holding company
“I’m an enormous admirer of Dan and what he has accomplished in Quicken Loans,” Buffett told CNBC. “Yahoo is not the type of thing I’d ever be an equity partner in. I don’t know the business and wouldn’t know how to evaluate it, but if Dan needed financing, with proper terms and protections, we would be a possible financing help.”
Right now, Verizon Communications Inc. is a favorite to win the bidding.
This article appears in May 11-17, 2016.
A decade ago, Yahoo! was a cutting edge company that was charging into the future……now, it is the Yugo of the tech industry.