It has been reported that legendary investor and Berkshire Hathaway’s founder Warren Buffett, who turned 91 recently, will change his financial strategy and focus on the high-tech industry.

This has been a tough decision for Buffett to shift away from his traditional investment strategies. Nevertheless, the business magnate hopes to benefit from a technology-driven economy and wants to try his hand at other industries. The 'Oracle of Omaha' is open to new investments and is ready to expand his equity portfolio that contains shares of leading railway, insurance, household products, and retail companies.

According to InsiderScorе, Berkshire's exposure to technology stocks has increased to 45% owing to a massive stake in Apple.  Buffett invested in the tech giant in 2016. This year, Apple shares have already brought him $120 billion in revenue.

“There has been a pretty significant shift in the investment portfolio. Now it’s really geared towards the new economy,” James Shanahan, Berkshire analyst at Edward Jones, said.

Warren Buffett has invested heavily in several Big Tech corporations. He is primarily focused on companies of emerging markets. In 2018, Berkshire invested in Stone Co., a Brazilian fintech company. Today, the fund’s stake in this company exceeds $700 million. Earlier, Berkshire Hathaway invested in Paytm, the largest digital payment system firm in India. In 2020, the investor purchased shares of Snowflake Inc, an American startup, worth $250 million.

The changes also affected the traditional stocks that are part of Buffett’s equity portfolio. Berkshire has recently exited some of its big financial bets, such as JPMorgan Chase & Co, Wells Fargo, and PNC Financial Services Group Inc. The legendary investor still owns large stakes in American Express and Bank of America.