Warren Buffett.

  • The billionaire investor Dan Loeb quoted Warren Buffett favorably this week after blasting the Berkshire Hathaway boss as a hypocrite back in 2015.
  • “We highlight an observation from Warren Buffett: ‘Companies get the shareholders they deserve,'” the Third Point chief wrote in a letter to Disney CEO Bob Chapek.
  • Loeb called out Buffett in 2015 for criticizing hedge funds, activist investors, financial institutions, and tax minimizers, despite acting similar to them.
  • Loeb said at the time that Buffett “has a lot of wisdom” but that “we need to be aware of the disconnect between his wisdom and how he behaves.”
  • Visit Business Insider’s homepage for more stories.

The billionaire hedge-fund manager Dan Loeb quoted Warren Buffett in a letter this week calling for changes at Disney. The Third Point chief slammed the famed investor and Berkshire Hathaway CEO as a hypocrite back in 2015.

Loeb, whose

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Warren Buffett


  • Billionaire investor Dan Loeb quoted Warren Buffett this week after blasting the Berkshire Hathaway boss as a hypocrite in 2015.
  • “We highlight an observation from Warren Buffett: ‘Companies get the shareholders they deserve,'” the Third Point chief wrote in a letter to Disney CEO Bob Chapek.
  • Loeb called out Buffett in 2015 for criticizing hedge funds, activist investors, financial institutions, and tax minimizers, despite acting similarly to them.
  • Buffett “has a lot of wisdom, but I think we need to be aware of the disconnect between his wisdom and how he behaves,” Loeb said at the time.
  • Visit Business Insider’s homepage for more stories.

Billionaire hedge-fund manager Dan Loeb quoted Warren Buffett this week in a letter, calling for changes at Disney. The Third Point chief slammed the famed investor and Berkshire Hathaway CEO as a hypocrite in 2015.

Loeb, whose fund owned $613 million

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Activist investor Dan Loeb is urging The Walt Disney Company’s CEO Bob Chapek to halt its $3 billion annual dividend payment and redirect the funds towards content production and acquisition for its streaming service, Disney+, according to a letter Wednesday obtained by FOX Business.

DAN LOEB’S LETTER TO DISNEY CEO BOB CHAPEK

Ticker Security Last Change Change %
DIS WALT DISNEY COMPANY 122.91 +1.98 +1.64%

“By reallocating a dividend of a few dollars per share, Disney could more than double its Disney+ original content budget,” Loeb wrote. “These incremental dollars would, based on our analysis, generate returns that are multiples of the stock’s current dividend yield by driving high life-time-value  subscribers to your [direct-to-consumer] platform.”

Besides bringing in additional subscribers, Loeb said “increased velocity of dedicated content production will deliver several knock-on benefits spread across your existing base

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Of course, Trump had used this business experience as a selling point on the campaign trail — presenting himself as so rich that he wouldn’t be like any establishment politician, beholden to a donor class. The believability of the sales pitch rested on two not entirely believable assumptions: that Trump was in fact as rich as he said he was, and that he was capable of staying satisfied with whatever amount of money he had.

Credit…Mehrunnisa Wani

Alexander shows how Trump was so obsessed with his ranking on the annual Forbes 400 list of the richest Americans that he became known at the magazine for trying to inflate his profits and hide his debts. “Most tycoons did not want to be on the Forbes list,” Alexander writes, presumably because of the scrutiny it

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Dan Trigub, who for the last two years has led Uber Health, is leaving the ride-sharing giant to start his own health care company, he wrote in an email to his contacts, the text of which was shared with STAT. His last day with the company is Tuesday.

Trigub has steered Uber Health, which launched in 2018, through a period of rapid growth. Like rival Lyft, the company has built out a business focused on non-emergency medical transportation, using its platform to allow providers and patients to schedule rides to medical appointments. During Trigub’s tenure, Uber Health has partnered with more than 1,000 health care organizations to expand its medical transportation business.

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AUSTIN — President Donald Trump will again carry Texas and win re-election because he’s attuned to the fears suburban residents have about crime and Democratic-backed programs that would bring low-income housing to their neighborhoods, Lt. Gov. Dan Patrick said Sunday.

“It doesn’t matter in Fort Bend County or in Collin County if you’re Black, white or brown, if you’re living in the suburbs, they are not in favor of low-income housing being built near and around their neighborhoods,” Patrick said in a phone interview from Charlotte, N.C.

Patrick spoke as the Republican National Committee, which was meeting in Charlotte, was expected Monday afternoon to renominate Trump for a second term.

On Monday night, the GOP kicks off its four-night convention with a prime-time program that follows Democratic presidential nominee Joe Biden and the Democrats’ virtual convention last week.

“This has nothing to do with racism,” said Patrick, who is chairman

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Before he met with Dan and Tanya Snyder and spoke with head coach Ron Rivera twice, and well before some of his best friends from his NFL playing days found out about his new role from media reports, new Washington Football Team president Jason Wright co-authored several reports for the McKinsey & Company consulting firm on racial inequity and economic exclusion In Black America.

Wright, who on Monday was announced as the first Black team president in NFL history, wrote in April about the disproportionate impact COVID-19 was having on Black people. He and his colleagues reported that “[f]orty percent of the revenues of black-owned businesses are located in the five most vulnerable sectors — including leisure, hospitality, and retail — compared with 25 percent of the revenues of all US businesses.”

In February, just before COVID-19 reached pandemic levels, he made the case for accelerating financial inclusion in Black

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