Warren Buffett is probably not a very happy man, as his investment vehicle, Berkshire Hathaway Inc. , appears to be losing nearly $390 million on its investment in Wal-Mart Stores Inc. on Wednesday. Berkshire owned 60.39 million shares of Wal-Mart as of June 30, according to FactSet, making the retail giant its seventh-biggest holding. With the stock plunging $6.44, or 9.7%, in afternoon trade--on track for the biggest one-day price drop in its history--after the company provided a downbeat fiscal 2017 earnings outlook, Berkshire's Wal-Mart stake is worth $388.85 million less than it was on Tuesday. What might make Buffett feel a little better: Walton Enterprises LLC, the holding company of the Walton family that founded the retailer, owns 1.42 billion Wal-Mart shares, or about 44.2% of the shares outstanding, according to FactSet. That means the Walton family is losing $9.12 billion in one day on its Wal-Mart stake.
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