Buffett makes $10 billion on crisis loans

Warren Buffett invested in floundering blue-chip companies at the beginning of the recession and now that the firms have recovered he’s reaping a substantial profit— $10 billion, with more to come, the Wall Street Journal says.

By Staff | October 10, 2013 | Last updated on October 10, 2013

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Warren Buffett invested in floundering blue-chip companies at the beginning of the recession. Now that the firms have recovered, he’s reaping a substantial profit— $10 billion, with more to come, the Wall Street Journal says.

Read: Buffett predicts debt ceiling resolution

The latest organization to make good on its loan from Buffett is candy company Mars. Its subsidiary Wrigley repaid a $4.4-billion loan from 2008, which will net Berkshire Hathaway at least $680 million, WSJ reports.

Buffett says the money will go toward future investments.

Berkshire’s portfolio is worth more than $100 billion.