Warren Buffett Just Made About $50 Million On Symetra In One Day

By MarketWatch Pulse

Warren Buffett keeps getting richer, as the 8.4% premium Sumitomo Life Insurance Co. is paying to buy Symetra Financial Corp. boosted the billionaire's wealth by about $50 million on Tuesday. General Re-New England Asset Management, a subsidiary of Buffett's Berkshire Hathaway Inc. , owned 20.05 million shares of Symetra as of March 31, or 17.3% of the financial services company's outstanding shares, according to FactSet. The $32 a share Sumitomo is paying for Symetra is $2.48 above Monday's closing price of $29.52, increasing the value of General Re's stake by $49.7 million. Including the previously-announced special dividend of 50 cents a share Symetra is paying its shareholders, Buffett is making $59.7 million.

Copyright © 2015 MarketWatch, Inc.

Continue Reading Below