user icon
user icon

Warren Buffet to play a role in F1 takeover?

  • Published on 21 Nov 2016 17:20
  • comments 0
  • By: Dominik Wilde

Warren Buffet could become a key player in Liberty Media's takeover of Formula One.

The American Billionaire, the third richest man in the world according to Forbes, is reported to own a stake in Liberty Media - F1's new owners.

Buffet;s holding company Berkshire Hathaway wholly owns GIECO, BNSF, Lubrizol, Dairy Queen, and Fruit of the Loom, plus an 8% stake in Liberty Media according to Pitpass.

Berkshire Hathaway is Liberty Media's only external shareholder and crucially holds 4.6% of the company's voting rights.

Liberty Media Chairman John Malone holds 47.6% of the company's voting power, with his and his co-director's voting power combining to make 49.4%, making Berkshire Hathaway's stake in Liberty Media crucial.

Liberty are aiming to complete a full takeover of Formula One by June 30 2017.

Replies (0)

Login to reply

AT Grand Prix of Austria

Local time 

View more photos

AT Grand Prix of Austria

Local time 

View more photos

Related news

Give your opinion!

What should Mercedes' driver pairing in 2021 be?

World Championship standings 2019

Show full world champion standings

Formula 1 Calendar - 2020

Date
Grand Prix
Circuit
3 - Jul 5
Austria
See full schedule

Formula 1 Calendar - 2020

Date
Grand Prix & Circuit
3 - Jul 5
Austria Red Bull Ring
See full schedule
show sidebar