Warren Buffett has stepped down as chairman of Berkshire Hathaway, handing over leadership to his son Howard in the final chapter of a long-planned transition at the US business giant. At 96, the world-famous investor will move into an advisory role as chairman emeritus and remain on the company board to offer his “judgement and
Warren Buffett is stepping down as chairman of Berkshire Hathaway, the company said on Friday. In a statement, Berkshire Hathaway said Buffett had been named chairman emeritus, effective immediately, and will remain a member of the board of directors. He will be replaced as chairman by his son, Howard Buffett, the release said. The elder
Berkshire Hathaway sharply increased its Alphabet stake during its biggest quarter for stock buying in years. Greg Abel, who took over from Warren Buffett as CEO at the turn of the year, oversaw an 83% increase in Berkshire’s Alphabet holdings to about 106 million shares, worth nearly $38 billion at the end of June. Berkshire
Berkshire Hathaway’s exceptionally deep pockets are getting shallower under its new CEO, Greg Abel. In its latest earnings report on Saturday, the company said it ended June with $365.5 billion in cash and Treasury bills, a noticeable dip from the $397.4 billion recorded at the end of March. The company’s net income, meanwhile, reached $25.6
Warren Buffett says he made a mistake with Alphabet. The Oracle of Omaha said he called on Berkshire Hathaway to invest billions in Alphabet. The conglomerate owns shares worth about $31 billion. Buffett’s only regret? That Berkshire did not invest in Google’s parent company before, he said in an interview with CNBC this week. “I
