Buffett’s successor buys nearly $70M of Berkshire stock

Published October 3, 2022 4:12 pm

By JOSH FUNK
AP Business Writer

OMAHA, Neb. (AP) — Billionaire Warren Buffett’s successor bought nearly $70 million worth of stock in the conglomerate he is slated to one day lead. Berkshire Hathaway Vice Chairman Greg Abel disclosed buying 168 Class A shares in the company in a filing with the Securities and Exchange Commission on Monday. The purchases made last Thursday at prices between $405,800 and $408,514.01 per share will give Abel a small stake of 173 Class A shares in the Omaha, Nebraska-based company’s future, but his holdings pale in comparison to Buffett’s Berkshire investment. Buffett controls more than 30% of Berkshire’s voting stock.

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