Berkshire Hathaway resumed its share repurchase program for the first time since May 2024. New CEO Greg Abel initiated the move to deploy a portion of the company’s cash hoard, which exceeds $370 billion. The firm will execute buybacks when shares trade below its conservatively determined intrinsic value.
Abel disclosed a personal purchase of approximately $15 million in Berkshire stock. He also pledged to use his entire annual after-tax salary to purchase company shares for the duration of his tenure.
On March 5th, Berkshire Hathaway shares rose by over 2% following the announcements.