×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: billion | ceo | buffett | lost

USA Today: Buffett, Adelson, 3 Other CEOs Lost Collective $20 Billion This Year

USA Today: Buffett, Adelson, 3 Other CEOs Lost Collective $20 Billion This Year
Warren Buffett

By    |   Tuesday, 29 December 2015 08:15 AM EST


Five CEOs of companies in the Russell 1000 index, including Sheldon Adelson of casino operator Las Vegas Sands and investor Warren Buffett of Berkshire Hathaway, lost more money on their companies' shares than any other CEOs this year, according to a USA Today analysis of data from S&P Capital IQ.

"The five CEOs were handed a whopping collective $20 billion loss on their company stock in 2015. Each and every one of these CEOs lost $1 billion or more — based on the average number of shares they've owned this year," USA Today reported.

"Buffett certainly wins the award for having the roughest year — as his position in Berkshire Hathaway took a $7.8 billion hit. Shares of Berkshire Hathaway have declined 11% this year — which amounts to real money when you're talking about a stock that costs $201,000 a share," USA Today reported.

"The hit is only magnified when you own 308,548 shares of these highly valued shares, as Buffett, the company's top shareholder, does. Berkshire's stock has been under pressure this year with questions about profitability at its insurance unit persist. Big drops in large Berkshire holdings like Walmart (WMT), American Express (AXP) and International Business Machines (IBM) don't help matters, either."

Weakness in the casino stocks — fueled by a dramatic slowdown in gaming in Asia — has been absolutely brutal for the industry's titans.

Las Vegas Sands' Adelson conservatively lost $2.5 billion this year as the company's stock dropped 24%. His loss is probably actually larger than $2.5 billion because he added dramatically to his position in the first quarter of the year, according to S&P Capital IQ.

Fellow casino titan Stephen Wynn at Wynn Resorts (WYNN) didn't quite lose a $1 billion this year, so he didn't make this list, but his $800 million stock-value hit will leave a mark, too.

CEOS WHO LOST THE MOST THIS YEAR*

CEO, Company, Symbol, $ lost YTD (billions)
  • Warren Buffett, Berkshire Hathaway, BRKA, $7.8
  • Harold Hamm, Continental Resources, CLR, $3.9
  • Charles Ergen, Dish Network, DISH, $3.5
  • Sheldon Gary Adelson, Las Vegas Sands, LVS, $2.5
  • Nicholas Woodman, GoPro, GPRO, $1.8

* Based on current CEOs of companies in Russell 1000. Losses based on average holdings between Dec. 2014 through the most recent quarterly disclosure.

Meanwhile, Buffett's Berkshire Hathaway is on track for its worst year since 2008, CNN Money reports.

Shares of Berkshire's A and B shares are each down about 13% so far in 2015. The A shares (BRKA) are for the 1% — they cost just under $195,000 apiece. The B shares (BRKB) trade for about $130.

The last time the Oracle of Omaha's company did so poorly was in 2008, when both classes of Berkshire's stock fell 32%, CNN Money reported.

But Berkshire isn't just about stock picks. It is — in the words of Buffett — a "sprawling conglomerate, constantly trying to sprawl further."

"If history is any guide, Buffett will bounce back next year. Berkshire's B shares have never suffered two consecutive years of declines. And the last time the A shares fell two years in a row was way back in 1973 and 1974," CNN Money reported.

© 2022 Newsmax Finance. All rights reserved.


Economy
Five CEOs of companies in the Russell 1000 index, including Nicholas Woodman of camera maker GoPro, Sheldon Adelson of casino operator Las Vegas Sands and even the famed investor Warren Buffett of Berkshire Hathaway, lost more money on their companies' shares than any other CEOs this year.
billion, ceo, buffett, lost
517
2015-15-29
Tuesday, 29 December 2015 08:15 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved