Famed investor Warren Buffett is steadily snowballing a stake in Occidental Petroleum Corp. in what could end up being his biggest-ever acquisition. His Berkshire Hathaway Inc. on Friday won approval to buy as much as 50% of the shares. Some investors believe it’s a step toward a full takeover, which may end up costing more … Read more
By Katherine Chiglinsky Warren Buffett said Greg Abel, Berkshire Hathaway Inc.’s vice chairman of non-insurance businesses, would be his likely successor if the billionaire were to step down. The board agrees that Abel, 58, would take over if anything were to happen to the 90-year-old chief executive officer, Buffett told CNBC. Abel had been seen … Read more
By Katherine Chiglinsky Warren Buffett conceded that a better-than-expected economic recovery from the pandemic made the timing of some Berkshire Hathaway Inc. moves last year — including its decision to drop some airline stocks — more fraught. Berkshire ended up dumping the stocks of four major U.S. airlines as the pandemic bore down on the … Read more
NEW YORK, NEW YORK – SEPTEMBER 20: Apple CEO Tim Cook greets customers at the grand reopening of Apple’s flagship Apple Fifth Avenue retail store on September 20, 2019 in New York City. Taylor Hill | WireImage | Getty Images Shares of Apple closed up 5.39% on Monday to a price of $127.79, outpacing the … Read more
Warren Buffett’s Berkshire Hathaway Inc on Saturday said quarterly operating income rose 14 per cent, aided by improved results from its insurance businesses, while soaring prices of stock holdings such as Apple Inc led to a nearly $36 billion overall profit. Fourth-quarter operating income rose to $5.02 billion, or approximately $3,252 per Class A share, … Read more
By Katherine Chiglinsky Warren Buffett might have just found his next elephant-sized deal: Buying back his own stock. Berkshire Hathaway Inc. spent $16 billion buying back its stock in the first nine months of 2020, more than triple its previous annual record. The repurchases even surpass many of Berkshire’s biggest investments in recent years, including … Read more
By Katherine Chiglinsky Warren Buffett’s Berkshire Hathaway Inc. spent a record $5 billion buying back Berkshire’s own stock in the second quarter. Berkshire’s Class A shares, which fell in line with the S&P 500 in the first three months of the year as the pandemic spread in the US, fell another 1.7% last quarter while … Read more