Greg Abel reshapes Berkshire with $10B investment and $4.5B buybacks
Business
Greg Abel, Berkshire's new CEO, wasted no time shaking things up at Berkshire Hathaway.
In the second quarter of 2026, he invested $10 billion in Google's parent company and spent $4.5 billion buying back Berkshire stock, dropping the company's cash pile from nearly $400 billion at the end of March to about $365.5 billion.
Berkshire profits hit $25.667B
Abel's buybacks show he wants to reward shareholders, though the total was less than Wall Street hoped for.
Still, Berkshire's profits more than doubled to $25.667 billion thanks to investment gains, and operating profit jumped nearly $2 billion.
Abel also revealed more than $24 billion worth of commercial, industrial and other stocks and a big homebuilder acquisition, making it clear he's not afraid of bold moves.