Monday, August 2

Himalaya Capital Management

Berkshire Hathaway, BYD stock, Charlie Munger, Electric Vehicles, Himalaya Capital Management, Li Lu, Markets, MI Exclusive, Warren Buffett

The investor responsible for Warren Buffett’s 25x gain on BYD just sold $320 million of the electric-vehicle maker’s stock

Warren Buffett. Paul Morigi/Getty Images for Fortune/Time Inc Li Lu's Himalaya fund sold 15% of its BYD stake in two days, netting about $320 million. Li encouraged Warren Buffett and Charlie Munger to invest in the Chinese automaker in 2008. BYD's stock price is down about 5% this year after soaring 400% in 2020. See more stories on Insider's business page. Li Lu introduced Warren Buffett and Charlie Munger to BYD, one of the pair's best investments over the past decade. The fund manager seems less bullish on the Chinese electric-vehicle maker today, given he recently cashed out more than $300 million of its stock in the space of two days.Li's Himalaya Capital Management sold 7.1 million shares for around $29 each on July 8, and disposed of another 3.6 million shares at a simila...