| Berkshire's Brazilian bank stake could double in IPO Nubank, a growing Brazilian fintech backed by Berkshire Hathaway, is looking for a valuation of more than $55 billion in its planned U.S. IPO.
That's according to Reuters, which sites "two sources familiar with the matter."
The report notes that a market cap of more than $55.4 billion would top Itaú Unibanco, Brazil's largest private sector bank, putting Nubank "into the ranks of the world's largest fintechs, ahead of recently listed Robinhood Markets."
One source told Reuters that Nubank's bankers have been "pitching" a valuation of up to $100 billion, but it is "unlikely to be valued so highly at the time it goes public."  In June, Berkshire Hathaway invested $500 million in Nubank, in a funding round that valued the company at $30 billion. That implies a stake of around 1.7%.
At a market value of $55.4 billion, Berkshire's investment would be worth around $923 million.
Nubank, which has 40 million customers in Latin America, was founded in 2013. Its goal is to use technology and design to improve banking in Brazil, where, it says, "people pay the highest fees and interest rates in the world for the worst banking services."
This year, it entered the CNBC Disruptor 50 list at #40.
Warren Buffett turns 91 on Monday Warren Buffett will be celebrating his 91st birthday on Monday (August 30).
In written comments released in June in conjunction with his annual philanthropic contributions and resignation from the Gates Foundation board, he said:
"Please understand that these remarks are no swan song; I continue at my enjoyable job, doing what I like, aided by associates I like and working to deploy the savings of people who have long trusted me. I still relish being on the field and carrying the ball. But I'm clearly playing in a game that, for me, has moved past the fourth quarter into overtime."
In May, Buffett told CNBC that Berkshire's board members "are in agreement that if something were to happen to me tonight, it would be [Berkshire Vice Chairman] Greg [Abel] who'd take over tomorrow morning."
BUFFETT AROUND THE INTERNET Some links may require a subscription
BERKSHIRE STOCK WATCH
  BERKSHIRE'S TOP U.S. STOCK HOLDINGS - Aug 27, 2021
 Berkshire's top holdings of disclosed publicly-traded U.S. stocks by market value, based on today's closing prices.
Holdings are as of June 30, 2021 as reported in Berkshire Hathaway's 13F filing on August 16, 2021, except for Apple, Bank of America, and U.S. Bancorp, which also include shares held as of June 30, 2021 as disclosed in New England Asset Management's 13F filing on August 16, 2021.
In addition to U.S. stocks, shares held as of December 31, 2020 of China's BYD, as listed in Buffett's 2020 letter to shareholders, are included. The price of those shares in U.S. trading is used to approximate the current market value of the position. The value of the stake as a percentage of the company's market value is fixed at what was listed as of December 31, 2020 in the letter.
The full list of holdings and current market values is available from CNBC.com's Berkshire Hathaway Portfolio Tracker.
QUESTIONS OR COMMENTS
Please send any questions or comments about the newsletter to me at alex.crippen@nbcuni.com. (Sorry, but we don't forward questions or comments to Buffett himself.)
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-- Alex Crippen, Editor, Warren Buffett Watch
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