Warren Buffett says he isn't stockpiling billions for Greg Abel to spend: 'I wouldn't do anything nearly so noble'
Briefly

Warren Buffett addressed concerns over Berkshire Hathaway's significant cash reserve, now exceeding $300 billion, dismissing the notion that he is hoarding it for successor Greg Abel’s investments. During the annual shareholder meeting, Buffett humorously noted he wouldn't delay investments for Abel’s benefit. The increase in reserves partly stems from a significant reduction in Apple holdings. While Buffett is eager to invest billions in worthwhile opportunities, he acknowledged the current lack of attractive bargains, urging value investors to be patient and strategic in their investments.
"I wouldn't do anything nearly so noble as to withhold investing myself just so Greg could look good," he said, causing a wave of laughter to roll through the crowd.
Buffett stated he would happily spend $20 billion, even $100 billion, on the right opportunity if it represented good value and was a long-term investment.
The billionaire said that he'd prefer if there were enough bargains on offer that Berkshire would only have $50 billion in reserve, but it's 'the dumbest thing in the world' to consistently invest.
Berkshire Hathaway's cash reserve doubled to over $300 billion in 2024, reaching a record high due to strategic investment decisions.
Read at Business Insider
[
|
]