Greg Abel has begun drawing down the cash pile he inherited from Warren Buffett: Bloomberg reported on Saturday a $4.5 billion share buyback alongside higher operating profit, which the Financial Times reads as Abel putting the reserves to work.
Berkshire Hathaway is the US conglomerate long led by Warren Buffett. Greg Abel has succeeded him at the head of the group, and the open question is how far his stewardship, above all his handling of the company's large cash reserves, will depart from Buffett's.
Berkshire Hathaway reported higher operating profit and bought back $4.5 billion of its own shares, Bloomberg reported on Saturday. According to the Financial Times, chief executive Greg Abel is putting to work the cash pile built up under Warren Buffett.