Berkshire Hathaway's CEO Greg Abel Invests $10 Billion in Google Parent Company

Greg Abel, the new CEO of Berkshire Hathaway, has invested $10 billion in Alphabet, Google's parent company, and repurchased $4.5 billion of its shares, as reported in the company's latest earnings.

OMAHA, Neb. — Berkshire Hathaway's new CEO Greg Abel has utilized a portion of the company's substantial cash reserves, investing $10 billion in Alphabet, the parent company of Google, and repurchasing approximately $4.5 billion of its own shares.

The company revealed its second-quarter earnings, indicating a decrease in cash holdings from nearly $400 billion at the end of March to $365.5 billion. Berkshire also reported acquiring over $24 billion in various stocks, although specific details on these purchases will be disclosed in a later filing.

Abel, who succeeded Warren Buffett as CEO in January, noted that the company resumed share buybacks in March after a two-year hiatus. However, the recent buybacks fell short of investor expectations, which had anticipated repurchases between $5 billion and $11 billion. Berkshire's operating profit rose to $12.983 billion, reflecting a significant increase compared to the previous year.

Berkshire Hathaway's CEO Greg Abel Invests $10 Billion in Google Parent Company

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