FX.co ★ Warren Buffet loses $700 million on Tesco shares

World-known billionaire investor Warren Buffet has lost over $700 million on his investment in the UK retailer giant Tesco, which has seen a considerable shares fall. Buffet has been holding a stake in the company since 2007. But his investment firm Berkshire Hathaway is suffering substantial losses after Tesco shares plummeted over 20% in August. Overall Tesco’s market capitalization decreased 43% in 2014. On September 22, 2014 Tesco shares plunged almost 12% after the retailer announced it had overstated its earnings for 2014.
Tesco has been an investors’ favorite in the retail sector during nearly 20 years of its continuous growth.