of the year the market's never gone down i don't like to use the words again, but that guy, berkshire hathaway munger with post pachb dem mick. >>> plus, investors bullish outlook on the stock your morning rbi and good news, good news for jobs seekers across the country very busy hour it nourishes and strengthens my joints for the long term. osteo bi-flex, plus vitamin d for immune support. it's another day. and anything could happen. ost it could be the day you d welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. get ready for it all with an advanced network and managed services from comcast business. and get cybersecurity solutions that let you see everything on your network. plus an expert team looking ahead 24/7 to help prevent threats. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. every day in business brings something new. so get the flexibility of the new mobile service designed for your small business. introducing comcast business mobile. you get the fastest, most reliable networ

berkshire hathaway of course buffett donated $4.1 billion of berkshire hathaway's shares to five charitablehis latest donation gets him halfway to his goal >>> on wall street, the dow down 716789 71 >>> i'm shepard smith on cnbc. it's the bottom of the hour, time for the top of the news a high school basketball coach fired after his players were accused of throwing tortillas at a rival, largely-hispanic team in an apparent racist taunt. >>> a months-long standoff at sea finally over as the owners of the boat that blocked the suez canal reach a deal with the authorities who seized it. >>> plus, britney spears speaks her mind she told a judge all i want is to own my money and for this to end. britney spears broke down during a rare public statement, begging a court cut off her father's control over her life and fortune after 13 years under a conservatorship. britney spoke over the phone in court and called the situation abusive, that she can't sleep, she's depressed and cries every day. she even told the judge she wants to get married to her boyfriend and have another baby but that she's forc

shares now at the half way point of his goal of giving away his entire berkshire hathaway stake in 2006 he owned about 47 5,000 berkshire axe shares and 15 years later and billions in donations now the founder is at 238, 600 shares all total worth about $100 billion. as you look, right now, berkshire shares may be moving lower but year-over-year the a shares are up more than 53% and buffett's resignation from the gates foundation board follows his giving co-founders bombshell divorce announcement which left many questions swirling about the future of their philanthropic venture but just because he's resigning doesn't mean he's stopping donations. look at these two stocks. they are losing more than 30% a piece at this hour, after the white house confirmed that president biden can move into fire the trump-appointed regulators of these two names, mortgage giant fannie mae and freddie mac, after supreme court ruled that the white house can do so. charlie gasparino, you've been doing this for a long time, mark calabri appears to be out soon? charles: he's toast but let's backup a lit

, of course, buffett also donated $4.1 billion of berkshire hathaway's shares to five charitables ago he pledged to give away all of his stock in the multinational conglomerate or 99% of his total wealth. buffett says his latest donation gets him halfway there >>> on wall street, the dow down 71 the s&p down 5 the nasdaq up 18 i'm shepard smith on cnbc. it's the bottom of the hour. time for the top of the news >>> a high school basketball coach fired after his players were accused of throwing tortillas at a rival largely hispanic team in an apparent racist taunt. >>> a months long standoff at sea finally over as the owners of the boat that blocked the suzanne canal reach a deal with authorities who seized it. >>> plus britney spears speaks her mind in court. >> crocker put it best, leave britney alone. the pop star said essentially the same telling a judge all i want is to own my money and for this to end. britney spears broke down during a rare public statement begging a court to cut off her father's control over her life and her fortune after 13 years under a conservatorship. b

. >> a broad sort of etf and you mention berkshire hathaway the biggest weight on their insurance companies, as well which subsector looks the weakest in your view >> well, within financial history relax. how much excessive return they deliver. and now the fact that on march 18th and i think about that. the market has gone a lot higher than that. poor relative strength for weeks and weeks and there's a lot of data there so, that would be and interestingly tony level is 33 of course, that is exactly the 150 average comes into play. >>> let's move on to nike now. the company reports next week. tony, what is the set up here? >> yeah, nike had a great year last year but really has un underwhelmed here for 2021 and i expect a little bit more of that is to come here on earnings next week when we look at the chart itself the stock has largely been trading sideways for the last eight to nine months and break intermediate support levels and the consumer discretionary sector nike is already starting to break below support levels here and that poor relative strength does not bode well going into earni

you mentioned berkshire hathaway the biggest weight on their insurance company which sub sector looks the weakest in your view >> within financials it's regional racks meaning the circumstances james discusses which is how much excess return they deliver and now the fact can'trepeat on march 18th thin about that, the market's gone a lot higher since then, regional banks have exhibited poor strength for weeks and weeks, there's a lot of beta there. interestingly tony's level 33 exactly where the 150 day moving average comes into play. >> let's move on to nike, company is gearing up for results next week. tony, what's the set up here >> nike had a great year last year but really has underwhemed for 2021 i expect a little bit more of that to come on earnings next week when we look at the chart itself, the stock is largely trading sideways for the left 8 to 9 months and breaking intermediate support levels of $130 more importantly relative to you the consumer discretion arsector nienge is nike is breaking below strength levels doesn't bode well going into next week looking at the business

to talk about their business relationship, the first deals they did together and what makes berkshire hathaway if we copied the central ied management system. >> i wouldn't have wanted to work there. >> i know. >> would you >> no, no. >> i would have resigned or been fired. no i would rather be in a jail cell with a few people who were interesting and plenty of reading material. >> what you're saying is we may have done it, wehave created it because it was our style but it will eventually prove useful i think. >> wealth of wisdom premiers tonight at 8:00 p.m. here on cnbc >>> joining us right now to talk more about warren buffett and charlie munger, also the american supply chain that's been under pressure from the pandemic is jim weber, ceo of brooks running, owned by berkshire hathaway it's introducing a sustainability trying to be carbon neutral by the year 2040. jim, welcome good to see you this morning. >> thank you, becky. it's good to be with you. >> buffe it. t and munger say they don't want bosses that's probably the best thing that having money has been able to buy them, and not havi

black rock and these other like warren buffet, are berkshire hathaway. they're become the new property bowers, the biggest owner of houses in america right now is a private company called black rock blackstone, blackstone, fusing all the time. so here you have, i, are they transition from home on our ship as part of the american experience or dream s i'm calling to being outdoors to barons who are now going to engage in price gouging. so when you see the price of property houses up 45 percent a year, that's not because the market is reflecting g d p growth or wage growth. now is reflecting price, gouging by slumlord, in this case the, the black stone. yeah. right. and i want to say in the last moments of the 1st path, i just do want to point out that there is on paper, at least some benefit toward more less of a home ownership and more renting. because you're obviously more agile. you can move around, go to where the jobs are. however, that is an economy with jobs. like china say, we don't have jobs in america. all we have is money printing. so you need

reporting just over $1500000.00 in income, and paying only 4 $150000000.00 in taxes, while berkshire hathaway is warren buffet seems to be the biggest offender paying just $23700000.00 in taxes on $125000000.00 and reported income as his wealth grew by $24300000000.00. now i want to know something that is very important here. the growth in wealth is due to assets including equities, which of course continue to climb over that time period. but if they don't take the cash out, they would course not be subject to income tax on that. there's a lot to discuss here and to do so, let's bring in professor richard wolf is the host of economic update and author of the thickness is the system when capitalism fails to save us from pandemic or itself, professor wolf. i usually start these segments with a y or a how, but the truth is we already know the answer. these billionaires are able to work the tax system by moving money here. they're having teams of law, tax lawyers are accountants to work the system. and those who actually respond to the pro public, there were 3 of them, they maintain, they paid wh

the plant is operated by chemtool, and owned by unit of warren buffett's berkshire hathaway and makese cans and fluent. no injuries have been -- makes lubricants and fluids. no injuries have been reported so far. u.k. and australia announced rod terms of a trade deal, and a push to expand trade be on the opinion. the deal is expected to cut tariffs on scotch, clothing and cars. it is due to reduced levies on agricultural products, which has drawn backlash from the farming sector in britain. u.k. sees it as the first ally outside the eu since brexit. president joe biden says he worn vladimir putin relations between the u.s. and russia will be severely damaged if alexei navalny dies in prison. navalny, the political opponent of printing, the victim of an apparent assassination attempt -- opponent of putin come of the victim of an apparent assassination attempt. bided is due to meet putin into -- biden is due to meet putin in geneva wednesday, his first meeting as u.s. president. >> every world leader here is a member of nato that spoke today, and most and it, thanks me, for meeting with

he's announced that he has reaches halfway mark in giving all of his berkshire hathaway shares to charityconductors has hit a record 18 weeks and continues to affect industries like cars and electronics. research shows that up by seven days from the previous month, the gap already the most since the firm began tracking dating a 20 -- dating in 2017 and four weeks longer than 2018. coming up, are we about to see a two wheeler come back. we will speak to one company that smashed and bashed and deliberately crashed its scooter s to prepare it for the pandemic. this is bloomberg. ♪ emily: tesla and smaller e.v. stoxx and jumped outperforming the broader market -- e.v. stocks and jumped outperforming the broader market. the most american-made vehicle for 2021. it's investing $50 million in exchange for a 20% equity in a clean hydrogen project. are you getting back to the office? e-scooters littered the streets after taking off in december of 2017, but covid-19 has -- has kept a key customer at home. now the industry is hoping to capitalize on the post-pandemic community wave. ed ludlow caught

. >>> programming note catch buffett yan& munger they share stories of what made berkshire hathaway thatback after this. i'm 53, but in my mind i'm still 35. that's why i take oste bi-flex to keep me moving the way i was made to, it nourishes and strengthens my joints for the long term. osteo bi-flex, plus vitamin d for immune support. >>> today's most random, but interesting thing has to do with jobs, costs and possible inflation. because they are all going together right now in a way that we have not seen if yn years or decades. first off, the job market is as hot as it can be many small businesses just cannot find workers. you can insert your own reason why here overall, the job need is not a debate the conference board reporting last month the percentage of americans who say jobs are quote plentiful, is nearly 47% that's up about 10% from the month before by the way, wite get the june number later today we have it tomorrow. this is causing mom and pop shops to pay workers more. you probably heard stories of 17-year-olds to get $20 an hour that usually pay minimum wage. and on cnbc.co

companies like berkshire hathaway expand what they are doing in their field and companies that provide benefit from that. jonathan: are you interested in doing it through the technology that goes into the car? mario: the answer is we look at the entire ecosystem. i am picking batteries because if you saw the graduate, which was r-rated at the time, there was a scene where dustin hoffman has to confront the husband or is confronted by the husband, and we are now getting into details. this is a family program, i think. batteries is a good sound bite. you could've said removal of plastics, recycling, but i chose batteries because i spent 55 years in the auto industry. lisa: there is a question, if we want to go to the graduate where dustin hoffman was under the water blowing bubbles and trying to reset his life. there is a question as you try to look for bottom up opportunities about how to evaluate what is been priced in. a lot of the companies you're talking about, the industries with renewable energy and batteries have been highly bid up because people agree with you. at what point is

buffett also announced he has reached the halfway mark in giving all of his berkshire hathaway shareso jerry. former -- to charity. former new york police captain eric adams leads the mayoral primaries. andrew yang has dropped out. guardian angel founder has won the republican nomination. the biggest property deal on the less biggest strip in more than a decade opens tomorrow. it features 3500 hotel rooms, celine dion and residency. construction at the site began back in 2007, but was halted by the recession. honda is phasing out sales of gasoline vehicles. honda is set to make a target of 2042 have all electric cars. the automaker also plans to unveil three new electric motorcycles by 2024. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ >> right now the key issue for the fomc is wind as the economy get to this point where we meet these conditions we have set out in time for the lift off of the funds rate. jonathan: that was john williams, the federal r

berkshire hathaway famously does not pay a dividend. because of that, warren buffett's ince as a major shareholder ends up being relatively low every year for someone with as much money as he has. so his wealth shot up by tens of billions of dollars in it a five-year period when focused on in our story, and he paid in the millions in taxes. that is because his company is structured in such a way use never really realizing those gains in a way the u.s. tax system recognizes. juan: what would be the ways that the government could be able to move into this whole area of wealth versus income in terms of -- obviously, a lot of these ultrawealthy people like michael bloomberg and soros and buffett end giving a lot of their wealth to foundations as a means for them to avoid paying even a wealth tax for the end of their lives. >> yeah, it is one of the aspects of the system that if nothing else, if you do donate your money to charity, there's not going to be a moment when those gains are taxed. so you get stuck to charity, for instance, is not

satish, you already have significant exposure in financials with berkshire hathaway we covered energyu to focus on is materials i will give two names. freeport mac more an mosaic, which is an agriculture play >>> managing the volatility. that's a topic i will sit down with kari firestone. there she. we will do it onnbc "pro talks. we will layout a playbook for pro subscribers on how to manage the recent ups and downs in the market kari will be answering questions directly from subscribers. you can still register if you are a pro subscriber and you can join pro right now cnbc.com/pro, withinhe cnbc app today at 1:30 p.m. eastern i was going to you there, kari i want you to save your energy, save all of your answers, all of your best marial for our pro subscribers coming up day with me at 1:30 all right. we will take a quick break we will come back and look at some of the stocks hitting new 52-week highs. if you're 55 and up, t-mobile has plans built just for you. switch now and get 2 unlimited lines and 2 free smartphones. and now get netflix on us. it's all included with 2 lines for o

josh has berkshire hathaway, and some others too. coming up, jon has unusual activity as well june is pride month and we are spotlighting business and community leaders and our own cnbc leaders here is our own chris. >> i was working on a story and learned 42% of lgbtq youth seriously considered suicide in the past year. that was shocking. one of the biggest challenges we face is coming out and being accepted by family and friends my advice to other members of my community who are struggling, know that you're not alone you are here for a reason, and it does get better financial c. here's andy listening to my goals and making plans. this is us talking tax-smart investing, managing risk, and all the ways schwab can help me invest. this is andy reminding me how i can keep my investing costs low and that there's no fee to work with him. here's me learning about schwab's satisfaction guarantee. accountability, i like it. so, yeah. andy and i made a good plan. find your own andy at schwab. a modern approach to wealth management. if you're

quick do share their stories of friendship, the deals they have done over the years to build berkshire hathawayney, but what we really wanted was independence we have had the ability, since pretty much a little after we met, financially we could associate with people we wanted to associate with. if we associated with jerks, that was our problem, but we didn't have to we've had that luxury now, for, like, 60 years or close to it. that beats 25 houses or 6 cars what's great is if you can do what you want to do in life and associate with the people you want to associate with it in life we have both had that spirit all the way through. tailor made or one size fits all? made to order or ready to go? with a hybrid, you don't have to choose. that's why insurers are going hybrid with ibm. with watson on a hybrid cloud they can use ai to help predict client needs and get the data they need to quickly design coverage for each one. businesses that want personalization and speed are going with a smarter hybrid cloud using the technology and expertise of ibm. nice bumping into you. salute to veterans indepe

the plant is owned by a unit of warren buffett berkshire hathaway and makes lubricants and other fluidso far. the chinese owner of a nuclear plant says its operations are safe even as a minority owner request a board meeting to discuss gas buildup in the reactor. the owner which owns 30% wants more data about the buildup, which is a known phenomenon. global news 24 hours a day, on-air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm vonnie quinn. this is bloomberg. kathleen: myanmar's military junta started the first trial for the ousted leader. the former president had been in detention since february 1 and face multiple charges. he appeared in court monday. philip brings us the latest. it is a tough road for her. what do you see now? what's coming next? >> she just appeared in court. this is the first trial brought against her in's the coup -- against her since the coup. she is being charged for violating covid-19 restrictions as well as incitement. these are charges brought by the junta as an effort to discredit her after

the first deals they did together and what they say makes berkshire hathaway stand out among the packrn we'll be right back. keeping your oyster business growing has you swamped. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. >>> as the stock market continues to ascend, so does the gap in the nation's wealth our robert frank has that story for us robert >> good morning, david the stock market has become far and away the biggest driver of wealth in america. of the $25 trillion that americans gained over the past year, 15 trillion of that came from stocks and mutual funds that is also the largest and fastest wealth gain in history yet this market rally has been special top heavy. the top 1% gained $8 trillion in stock wealth over the past year, more than half of the total. their stock wealth increased by 74% during the pandemic. now, the bottom 90% of americans, they also saw some gains, they were much smaller, t

even berkshire hathaway is doing that now i don't need the current income or current taxes either. some of the bad behavior that it could engender. all things being equal for my investors, i don't want to raise their tax bills. it's not what i'm here to do >> people rely on that for retirement income, though, have a different view the housing data new home sales falling diana olick looks at how that's impacting the home builders. >> home builders are lower on the day. it showed a larger than expected drop of 6% from april. the drop likely due to an 18% jump in the median price of a newly built home builders are focusing on the higher end as their own cost for labor and materials are rising sharply and they need to make up those costs. there was a 76% jump in the number of homes sold, but not yet started, which also indicates some of the supply issues that the builders are up against will, of course, be watching for any commentary on price and supplies from kb home which reports after the bell >> diana olick, thank you. >>> this was a surprise. also downward revisions. what's happen

he owns now half of that the remaining shares are worth billions he's given away half of his berkshire hathawaye held onto it now would be worth $100 billion the age old question of when do you give it away or hold onto it he said he's half way to his goal he makes a lot of comments about fil philanthropy he says he is resigning from the board of the bill and melinda gates corporation. he says they have his full support and his participation is in no way needed to achieve those goals. the five foundations he's given away to are one of those run by his children and one by his late wife susan thompson buffett. he makes a lot of different points here he said it will likely diminish over time. brings the point that it is a hot topic. res respect to donors, he'll get imaginative with it. >> becky there is a couple of thoughts. one is -- and i'm curious. by stepping off the board as a trustee and stepping off now, what does that mean about his future donations -- planned donations to the foundation? unclear to me. >> i don't think it would change it >> i only say that in the context that bill and mel

warren buffett will donate $4.1 billion of berkshire hathaway chairs from five foundations, susan, whythe bill and melinda gates foundation. does that have something to do with bill gates's bad pr? >> the with a divorce between the two leaders of the bill and melinda gates foundation, a lot of people asking, during the divorce proceeding, buffett himself in a statement that has nothing to do with the divorce. bill and melinda gates, one of 5 foundations buffett has given $41 billion, nice to have that type of money to give away. this is part of the giving pledge when buffett says he would give away 99% of its wealth. and the charitable donations, i it is part of the pound asians, bill and melinda gates, susan buffett, and the novo foundation with 100 billion, if you give his money to charities, and the right offs. stuart: i want to know why it is warren buffett give so much of his estate away before he paved death taxes. death taxes, if the government does good with all that money why not give it to the government instead of private charities. >> just write the check, the government ha