Warren Buffett Talks Social Networks, States They Are ‘Overpriced’
You see that man up there? That is a picture of a man with a personal net worth of over $50 Billion and whom has bought up over 40 different businesses and sold them on for a substantial profit afterwards. Warren Buffet is also CEO and founder of Berkshire Hathaway and when he offers opinions regarding ventures and political affairs people stop to listen. Now however Warren is talking social networks, and his comments have come after recent valuations that put the net worth of Facebook at $85 billion, and micro-blogging site Twitter at $5 billion.
“Most of them will be overpriced,” Buffett told business news site Bloomberg. “It’s extremely difficult to value social-networking-site companies. Some will be huge winners, which will make up for the rest.”
Warren Buffet has been a rather shy character when investing in the technology sector and was one of the first people to ever speak out and issue a warning about the Dotcom bubble of the late ’90s. According to Wikipedia, in 2008 Warren Buffet was ranked by Forbes as the richest person in the world with an estimated net worth of approximately $62 billion. In 2009, after donating billions of those dollars to charity, Warren was ranked as the second richest man in the United States with a net worth of US$37 billion with only Bill Gates ranked higher than Buffett. His net worth is up to $47 billion in the past 12 months.
Via: Thinq
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Oh Warren, I really do respect you buT come on, Facebook is well worth the money. NAWT!.