Berkshire Hathaway Sells $6.1 Billion of Stocks

Berkshire Hathaway, led by Warren Buffett, sold $6.1 billion in stocks and skipped share buybacks for the fifth consecutive quarter due to high market prices. Buffett, 95, is stepping down as CEO, with Greg Abel, 62, taking over. Despite stock lagging behind the S&P 500 and market volatility, Berkshire's operating profit surged 34% to $13.5 billion, driven by insurance and Geico's triple profit growth. The investment portfolio reached $283 billion, but energy business faced wildfire claims and lawsuits. As Berkshire navigates a leadership transition and waits for better deals, investors await the next chapter under Abel's guidance. The Daily News Now! - Every city. Every story. AI Powered. Hosted on Acast. See acast.com/privacy for more information.