Finance

Warren Buffett’s Berkshire Hathaway scoops up more Sirius XM, boosting stake to 35%

Published

3 months ago

February 4, 2025

Warren Buffett walks the floor and meets with Berkshire Hathaway shareholders ahead of their annual meeting in Omaha, Nebraska on May 3rd, 2024.

David A. Grogan

Warren Buffett’s Berkshire Hathaway once again scooped up shares of Sirius XM, boosting its stake in the satellite radio company to over 35%.

The Omaha, Nebraska-based conglomerate purchased roughly 2.3 million shares for about $54 million in separate transactions Thursday through Monday, according to a filing with the Securities and Exchange Commission Monday evening. Berkshire now owns 35.4% of SiriusXM.

Berkshire first bought Liberty Media’s trackers in 2016 and started piling into SiriusXM’s tracking stocks in the beginning of 2024 in a likely merger arbitrage play. Billionaire John Malone’s Liberty Media completed its deal in early September to combine its tracking stocks with the rest of the radio company, as part of the reshuffling of his sprawling media empire. There was also a split-off of the Atlanta Braves baseball team into a separate, publicly traded company, which Berkshire also owns shares in.

SiriusXM

Buffett has yet to mention the Siri bet publicly, and it’s not clear if the 94-year-old investor was behind it or if it’s the work of his investing lieutenants, either Ted Weschler or Todd Combs. Berkshire also purchased about 5 million shares in December.

SiriusXM had a rough 2024 with shares down a whopping 58% as the company grappled with subscriber losses and unfavorable demographic shifts. It’s not a favored stock on Wall Street. Out of the 16 analysts covering Siri, only three gave it a buy rating, according to FactSet.

The stock is up about 5% in the new year.

Finance

More Americans buy groceries with buy now, pay later loans

Published

4 hours ago

April 26, 2025

Business Finance News

People shop for produce at a Walmart in Rosemead, California, on April 11, 2025.

Frederic J. Brown | Afp | Getty Images

A growing number of Americans are using buy now, pay later loans to buy groceries, and more people are paying those bills late, according to new Lending Tree data released Friday.

The figures are the latest indicator that some consumers are cracking under the pressure of an uncertain economy and are having trouble affording essentials such as groceries as they contend with persistent inflation, high interest rates and concerns around tariffs.

In a survey conducted April 2-3 of 2,000 U.S. consumers ages 18 to 79, around half reported having used buy now, pay later services. Of those consumers, 25% of respondents said they were using BNPL loans to buy groceries, up from 14% in 2024 and 21% in 2023, the firm said.

Meanwhile, 41% of respondents said they made a late payment on a BNPL loan in the past year, up from 34% in the year prior, the survey found.

Lending Tree’s chief consumer finance analyst, Matt Schulz, said that of those respondents who said they paid a BNPL bill late, most said it was by no more than a week or so.

“A lot of people are struggling and looking for ways to extend their budget,” Schulz said. “Inflation is still a problem. Interest rates are still really high. There’s a lot of uncertainty around tariffs and other economic issues, and it’s all going to add up to a lot of people looking for ways to extend their budget however they can.”

“For an awful lot of people, that’s going to mean leaning on buy now, pay later loans, for better or for worse,” he said.

He stopped short of calling the results a recession indicator but said conditions are expected to decline further before they get better.

“I do think it’s going to get worse, at least in the short term,” said Schulz. “I don’t know that there’s a whole lot of reason to expect these numbers to get better in the near term.”

The loans, which allow consumers to split up purchases into several smaller payments, are a popular alternative to credit cards because they often don’t charge interest. But consumers can see high fees if they pay late, and they can run into problems if they stack up multiple loans. In Lending Tree’s survey, 60% of BNPL users said they’ve had multiple loans at once, with nearly a fourth saying they have held three or more at once.

“It’s just really important for people to be cautious when they use these things, because even though they can be a really good interest-free tool to help you kind of make it from one paycheck to the next, there’s also a lot of risk in mismanaging it,” said Schulz. “So people should tread lightly.”

Lending Tree’s findings come after Billboard revealed that about 60% of general admission Coachella attendees funded their concert tickets with buy now, pay later loans, sparking a debate on the state of the economy and how consumers are using debt to keep up their lifestyles. A recent announcement from DoorDash that it would begin accepting BNPL financing from Klarna for food deliveries led to widespread mockery and jokes that Americans were struggling so much that they were now being forced to finance cheeseburgers and burritos.

Over the last few years, consumers have held up relatively well, even in the face of persistent inflation and high interest rates, because the job market was strong and wage growth had kept up with inflation — at least for some workers.

Earlier this year, however, large companies including Walmart and Delta Airlines began warning that the dynamic had begun to shift and they were seeing cracks in demand, which was leading to worse-than-expected sales forecasts.