Berkshire Hathaway's new CEO Greg Abel spends a chunk of the company's massive cashpile

OMAHA, Neb. (AP) — Berkshire Hathaway’s new CEO Greg Abel spent a significant chunk of the company’s massive pile of cash as it invested $10 billion in Google’s parent company and repurchased about $4.5 billion of its shares.

The conglomerate that legendary investor Warren Buffett built reported its second-quarter earnings Saturday morning and disclosed that its cash holdings had shrunk to $365.5 billion from nearly $400 billion at the end of March.

kAmq6C@C6 E92? Sa` 3:==:@? H@CE9 @7 4@>>6C4:2=[ :?5FDEC:2= 2?5 @E96C DE@46 E96 DE@4@?E9]k^Am

kAmp36= E@@< @G6C 2D rt~ 😕 y2?F2CJ H96? k2 9C67lQ9EEADi^^2A?6HD]4@>^2CE:4=6^H2CC6?\3F776EE\36C66E:?8\2ca`_e`abb7hhgdhefb73`b`46_a_5c5QmqF776EE C6E:C65k^2m 27E6C D:I 564256D =625:?8 E96 4@>A2?J] qFE qF776EE C6>2:?D 492:C>2?]k^Am

kAmru#p #6D62C49 2?2=JDE r2E9J $6:76CE D2:5 :?G6DE@CD D9@F=5 36 6?4@FC2865 3J E96 2>@F?E @7 D92C6D q6C2?46 H2D 2 4@?46C? 3642FD6 :ED F?56CHC:E:?8 AC@7:ED 76== cdT 2?5 =28865 72C 369:?5 @E96C 3:8 2FE@ :?DFC6CD]k^Am

kAm“x E9:?< E96C6 2C6 EH@ <6J E2<62H2JD E92E D9@F=5 6?4@FC286 :?G6DE@CDi %96 724E E92E E96J 3@F89E 324< D92C6D 27E6C ?@E 92G:?8 5@?6 E9:?8D @7 E9:D >28?:EF56 7@C D6G6C2= J62CD ?@H] p?5 E96 @E96C A@D:E:G6 E9:?8 😀 E96 23:=:EJ E@ AC@5F46 E96 `_T @A6C2E:?8 C6G6?F6 8C@HE9 😕 E96 BF2CE6C[” $6:76CE D2:5]k^Am

kAmp36= k2 9C67lQ9EEADi^^2A?6HD]4@>^2CE:4=6^36C65 3FJ:?8 324< :ED @H? D92C6D 7@C E96 7:CDE E:>6 😕 >@C6 E92? EH@ J62CD[ 3FE :?G6DE@CD H6C6 F?56CH96=>65 H96? E96 4@>A2?J @?=J C6AFC492D65 23@FE Sabc >:==:@? H@CE9 @7 q6C

kAm%96 AFC492D6D 😕 E96 D64@?5 BF2CE6C E92E H6C6 5:D4=@D65 $2EFC52J 56>@?DEC2E6 E92E q6C6H96C6 36EH66? Sd 3:==:@? 2?5 S“ 3:==:@? 32D65 @? 2 7:=:?8 qF776EE >256 H96? 96 2??@F?465 9:D 2??F2= 492C:E23=J 5@?2E:@?D 😕 yF=J]k^Am

kAm%96 4@>A2?J’D DE2?52C5 😀 E92E :E @?=J C6AFC492D6D D92C6D H96? p36= 2?5 k2 9C67lQ9EEADi^^2A?6HD]4@>^2CE:4=6^H2CC6?\3F776EE\36C?:6\D2?56CD\6=:K236E9\3FD:?6DD\e4eh3gb“ghfde35g545ada4b24f23hfQmqF776EE 36=:6G6Dk^2m E96J 2C6 D6==:?8 7@C =6DD E92? E96J 2C6 H@CE9] %96J 5@ ?@E A=2? E@ DA6?5 2 DA64:7:4 2>@F?E =:<6 >2?J 4@>A2?:6D 5@] |@DE @7 q6C256 😕 yF?6] %96J >2J ?@E 36 3FJ:?8 >F49 ?@H 2D E96 DE@4< ;FDE 9:E 2 ?6H da\H66< 9:89 @? %9FCD52J]k^Am

kAmq6C

kAmx? 255:E:@? E@ E96 v@@8=6 DE@4< q6C292[ }63C2D<2\32D65 4@>A2?J 2=D@ 4@>A=6E65 2 Se]g 3:==:@? 24BF:D:E:@? @7 9@>63F:=56C %2J=@C |@CC:D@? 3FE E92E 5:5?VE 4=@D6 F?E:= yF=J D@ :EVD ?@E C67=64E65 😕 E96D6 BF2CE6C=J 7:8FC6D]k^Am

kAmq6C =:?6 AC@7:E >@C6 E92? 5@F3=65 E@ Sad]eef 3:==:@?[ @C S`f[geg]cc A6C r=2DD p D92C6[ @? 2 3:8 A2A6C 82:? 😕 E96 G2=F6 @7 :ED :?G6DE>6?ED 2D E96 4@>A2?J =2AA65 =2DE J62CVD Sb]g 3:==:@? HC:E65@H? 😕 E96 G2=F6 @7 :ED zC27E u@@5D DE2<6] p J62C 28@ q6C

kAmqFE qF776EE 92D =@?8 FC865 :?G6DE@CD E@ A2J >@C6 2EE6?E:@? E@ q6CA2?:6D 2C6 A6C7@C>:?8 3642FD6 E9@D6 ?F>36CD 6I4=F56 :?G6DE>6?ED] qJ E92E >62DFC6[ q6C S“]`e 3:==:@?[ @C Sf[fdh]dg A6C r=2DD p D92C6]k^Am

kAmq6C2;@C :?DFC6CD[ :?4=F5:?8 v6:4@[ 2 4@==64E:@? @7 3:8 FE:=:E:6D[ q}$u C2:=C@25 2?5 2 G2C:65 2DD@CE>6?E @7 >2?F724EFC:?8 2?5 C6E2:= 4@>A2?:6D[ :?4=F5:?8 !C64:D:@? r2DEA2CED 2?5 $66VD r2?5J]k^Am

Berkshire Hathaway’s new CEO Greg Abel spends a chunk of the company’s massive cashpile | Business

Tags: