Berkshire Hathaway Bought $10 Billion of Alphabet Straight From the Company, Bypassing the Open Market
Abel is making his mark on Berkshire Hathaway,
Overview
Former Warren Buffett watchers are now following CEO Greg Abel's moves as he leads Berkshire Hathaway (NYSE: BRKA)(NYSE: BRKB) into a new era. So far, the playbook hasn't changed too much, although Abel is definitely making his own stamp on the company.
Buffett himself initiated the holding company's relatively new position in Google parent company Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL), and he attributed the recent aggressive confidence in that position, indicated by a large addition of the stock in the second quarter, to his own influence.
Details
Beyond expanding its stake through public shares, it also bought $10 billion worth of the stock in a private placement. Let's look more closely at this recent purchase.
Source
Originally published at www.fool.com.