Berkshire Hathaway’s new CEO Greg Abel spends a chunk of the company’s massive cashpile
Summary
Berkshire Hathaway’s new CEO, Greg Abel, spent a large part of the company’s cash by investing $10 billion in Alphabet (Google’s parent company) and buying back $4.5 billion of its own shares. The company’s cash reserve decreased to $365.5 billion after these major moves and other stock purchases.Key Facts
- Greg Abel became CEO of Berkshire Hathaway in January 2026, with Warren Buffett staying as chairman.
- Berkshire invested $10 billion in Alphabet during the second quarter of 2026.
- The company repurchased about $4.5 billion of its own shares in the same period.
- Cash reserves dropped from nearly $400 billion at the end of March to $365.5 billion by the end of June.
- Berkshire added over $24 billion worth of other commercial and industrial stocks but did not disclose the specific stocks yet.
- In July, Berkshire completed a $6.8 billion purchase of homebuilder Taylor Morrison, not included in the second-quarter figures.
- Berkshire’s profit more than doubled to $25.7 billion for the quarter, helped by gains in investment values.
- Operating profit, which excludes investment gains and losses, also increased to nearly $13 billion.
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