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According to a Bloomberg report, billionaire Warren Buffett had offered Uber a $3bn investment but the talks failed after the two sides couldn’t agree on the terms.
According to media sources, Berkshire Hathaway would have provided a convertible loan to Uber that would have protected Buffett’s investment should Uber hit financial straits, while providing significant upside if Uber continued to grow in value.
The legendary investor later confirmed to CNBC: “I’m a great admirer of Dara… it’s true that Berkshire had discussions with Uber.”
He also added that some of the details in the report were “not correct” but he did not not clarify on what those details are.