This week, 34 million shares of Bank of America were bought by Berkshire Hathaway for $800 million, increasing Warren Buffett's stake in the bank to 11.3%, which is now estimated at $24.1 billion. The purchase of more BofA shares came after Berkshire sold the vast majority of its stake in Goldman Sachs in early 2020, has reduced its position in JPMorgan Chase, as well as reduced its obligations to the U.S. banks Bancorp and Bank of New York Mellon.