Berkshire’s New CEO Spends Like He Found Buffett’s Missing Wallet
KEY POINTS
- •Greg Abel, who became Berkshire Hathaway CEO at the start of 2026, reduced the company’s cash pile by $15 billion in Q2.
- •Berkshire bought $23.5 billion in stocks and repurchased $4.6 billion in its own shares, marking the largest buyback quarter since 2021.
- •The company reported a 16% rise in operating income to $13 billion, supported by strong performances from Geico, Dairy Queen, and BNSF Railway.
Greg Abel, the fresh-faced CEO who inherited Warren Buffett’s money mountain at Berkshire Hathaway early 2026, suddenly turned from squirrelly saver to corporate shopaholic. Between April and June, he shaved $15 billion off Berkshire’s $380 billion cash stash, dropping it to $365 billion—because apparently holding onto more cash than the GDP of Norway was becoming a drag. Abel bought $23.5 billion in stocks while selling a mere $3.7 billion, ending 14 quarters of 'passive-aggressive' selling. Plus, he threw $4.6 billion at stock buybacks—the biggest binge since 2021—because Berkshire’s cash pile doubling under Buffett was clearly just a savings account. Meanwhile, subsidiaries like Geico and Dairy Queen were busy minting a cool $13 billion in operating income, and Berkshire casually closed an $8.5 billion house-flip deal post-quarter, proving that Abel doesn’t just spend Berkshire’s cash on Twinkies. Buffett remains chairman-style relaxed as Abel rewrites the cash-hoarding playbook with 'nimble' moves that scream ’let’s spend!'
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(1 of 3)Greg Abel just turned Buffett’s wallet from cash fortress to clearance sale. Berkshire’s hoard shrank $15B in 3 months like a Black Friday frenzy on corporate steroids.
Who needs Buffett’s patient bargain hunting when checking out stocks feels like Powerball night? Abel’s spend spree just broke Berkshire’s piggy bank.
Abel’s idea of 'nimble' investing: spend billions fast enough to make a Kardashian shopping spree seem like a garage sale.
Source: Businessinsider | Published: 8/8/2026 | Author: Lauren Edmonds,Theron Mohamed
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