Warren Buffett's silver purchase helped make Thomas Kaplan a billionaire. His gold bet is an even bigger boon: 'I owe him two!' - Creak News

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Warren Buffett's silver purchase helped make Thomas Kaplan a billionaire. His gold bet is an even bigger boon: 'I owe him two!'

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  • Warren Buffett helped Thomas Kaplan become a billionaire when he bought 130 million ounces of silver in the late 1990s, just before Kaplan listed his silver-mining company.
  • The Berkshire Hathaway CEO has done the natural-resources investor another favor by taking a stake in Barrick Gold last quarter.
  • Barrick co-owns the Donlin Creek gold deposit in Alaska with NovaGold, which counts Kaplan as its chairman and largest shareholder.
  • "Lightning has now struck twice," Kaplan told Business Insider. "Now I owe him two!"
  • Visit Business Insider's homepage for more stories.

Warren Buffett paved the way for Thomas Kaplan to become a billionaire when he unexpectedly bought silver in the late 1990s.

The Berkshire Hathaway CEO has inadvertently helped the natural-resources investor once again with his surprise bet on a gold miner more than 20 years later.

See the rest of the story at Business Insider

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from Business Insider https://ift.tt/3l46yfI

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