Berkshire Hathaway begins repurchasing shares, CEO Greg Abel buys $15 million in stock
CNBC • • business
Key Points:
- Berkshire Hathaway has resumed repurchasing its Class A and Class B shares for the first time since 2024, with CEO Greg Abel confirming the move after consulting with Warren Buffett on intrinsic value and timing.
- New CEO Greg Abel personally purchased $15 million worth of Berkshire stock, matching his after-tax annual salary, signaling his strong confidence and alignment with shareholders.
- Abel plans to continue buying Berkshire shares annually with his full salary for as long as he leads the company, aiming for a tenure of about 20 years.
- The company’s shares have fallen 3% this year and 10% from their record high last May, partly due to a nearly 30% decline in fourth-quarter operating earnings driven by weakness in the
