Summary
Warren Buffett's company, Berkshire Hathaway, sold over $6 billion in stock during the third quarter of the year. This sale is part of a larger trend where the company has been selling off stocks instead of buying them, increasing its cash reserves to $382 billion. Buffett plans to step down as CEO soon, with Greg Abel set to take over.
Key Facts
- Warren Buffett's company, Berkshire Hathaway, sold $6.1 billion in stock from July to September.
- Berkshire Hathaway is keeping more cash, now totaling $382 billion.
- The company has sold around $184 billion in stocks over the past three years.
- Berkshire did not buy back any of its own stock for the fifth straight quarter.
- Warren Buffett, 95, announced he would step down as CEO soon.
- Greg Abel, head of non-insurance operations, will become the new CEO.
