businessinsider.com – Julia La Roche
On Friday evening, billionaire investor Warren Buffett, the founder of Berkshire Hathaway, disclosed that he had purchased a massive stake in oil refinery Phillips 66 (PSX).
Buffett now owns 57,975,456 shares, or a 10% stake, in the Texas-based energy company, according to a securities filing posted shortly after 8 p.m. ET.
As of Friday’s share price close at $77.23, Buffett’s stake is valued at more than $4.47 billion.
Buffett had been aggressively buying shares of Phillips 66 since Wednesday of this week.