Billionaires Warren Buffett and Bill Gates have been close friends for decades. The Gates Foundation Trust owns over 21 million shares of Berkshire Hathaway, worth around $11 billion. Gates sold 2.4 million more shares last quarter. Berkshire has over $380 billion in cash, making it a safe investment during market downturns. Selling Berkshire stock helps balance the trust’s portfolio and diversify its holdings. While Berkshire remains the trust’s largest position, selling occurred near all-time highs, indicating potential overvaluation concerns. Gates and Buffett’s caution suggests nervousness about current market valuations. The Gates Foundation Trust may be selling to fulfill its mission of distributing profits to charitable causes.

Read more at Nasdaq: Bill Gates Just Sold 2.4 Million Shares of Berkshire Hathaway — Should Investors Panic?