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Abel puts a big chunk of Berkshire’s cash to work
In his second quarter as the new CEO of Berkshire Hathaway, Greg Abel did some serious spending.
As a result, the company’s still huge cash reserves declined significantly for the first time since early 2022.
Saturday morning’s financial report for the three months ending June 30 shows Berkshire had $365.5 billion on hand, a reduction of 8.0% from its record high $397.4 billion as of March 31.
Excluding BNSF’s cash and adjusting for Treasury bills purchased but not yet paid for, a metric favored by…
