Warren Buffett builds record cash reserves of over $300 billion at Berkshire Hathaway
businessinsider.com — November 13, 2024, 01:01 PM UTC
Warren Buffett has increased Berkshire Hathaway's cash reserves to over $300 billion, a record high. This growth comes as he has stopped stock buybacks and reduced holdings in major companies like Apple and Bank of America. The cash pile has tripled in two years, now making up at least 27% of Berkshire's total assets. Buffett's strategy appears to be influenced by a lack of attractive investment opportunities in a market where stock prices are at record highs. Buffett's actions may also reflect preparations for a leadership transition to Greg Abel, who is expected to succeed him. The significant cash reserves could allow Berkshire to take advantage of future market downturns.