Yes, you absolutely read that right. Warren Buffett, the third richest man in the world is earning around $6,731 per minute in dividend income this quarter. That translates to around $9 million per day, or a total of $882,004,712 in the entire second quarter of 2017.
Of course, those numbers are dependent on a number of factors, including most importantly that nothing in Buffett’s portfolio changes between now an the end of the second quarter (which is highly unlikely, even with Buffett’s preference for holding on to stocks for long periods). So, where is this money coming from?
Currently, Buffet has around 47 different stocks in his portfolio, and many of them pay out dividends. In fact, despite the fact that Berkshire Hathaway doesn’t pay dividends to its shareholders, Buffett tends to prefer stocks that DO pay dividends so that he can can use that money to help further his interests.
According to the Motley Fool, here are five stocks that pay the most in dividends:
- Kraft Heinz – $195,380,981
- Wells Fargo – $182,287,623
- Coca-Cola – $148,000,000
- IBM – $113,723,224
- Philips 66 – $50,834,632
It should be noted that some of these companies, especially Coca-cola, are known to frequently increase dividend payouts depending on the company sales. Additionally, these are far from the only stocks Buffett owns that pay out dividends—these are just the largest. Other stocks Buffett owns which pay out dividends include General Motors, General Electric, US Bancorp, Monsanto, and others.