Social Media Buzz: Buffett to Speak, India, Trump on Twitter

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What’s buzzing on social media this morning:

Warren Buffett’s Berkshire Hathaway is getting more cautious on stocks and buybacks. The conglomerate was a net seller of stocks in the first quarter and slowed its buyback pace.

  • Buffett, 90, will join his longtime business partner, Charlie Munger, 97, for Berkshire’s annual meeting Saturday. The pair will field questions from investors for hours during the virtual event.

A fire in a Covid-19 hospital ward in western India killed 18 people early Saturday, AP reported. The country has been struggling to combat the worst surge of coronavirus cases in the world.

  • President Joe Biden announced a ban on most travel to the U.S. from India beginning Tuesday. The move won’t apply to U.S. citizens or permanent residents.
  • Members of the Indian diaspora around the world are trying to do what they can to help the country, including with donations of funds and supplies. Some have been unable to do anything to save family members who have succumbed to the disease.

Donald Trump mocked Twitter after the social media company’s stock tumbled 15% Friday following first-quarter digital ad sales and revenue forecasts that disappointed investors.

  • Trump, banned from the platform, said Twitter “has become totally BORING.”

Basecamp, a productivity software startup, saw an employee exodus after the CEO banned discussion of political and societal issues at work, calling it a “major distraction.” Multiple employees made their departure announcements on Twitter.

Eli Broad, the billionaire businessman who founded two Fortune 500 companies in different industries before becoming one of America’s foremost philanthropists and art collectors, has died. He was 87.

  • Broad died Friday afternoon in his adopted home town of Los Angeles following a long illness. His legacy is visible there at his namesake contemporary art museum. He led fund raising for the Walt Disney Concert Hall and the Broad Stage performing arts venue, among others.

©2021 Bloomberg L.P.

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