Warren Buffett announced he would step down as CEO of Berkshire Hathaway, a role he has held for over sixty years. Despite market fluctuations leading many investors to sell stocks, Buffett's net worth increased by $26 billion this year to $169 billion, owing primarily to a 19% rise in Berkshire Hathaway shares. His comments at the annual meeting revealed that the company has $345 billion in cash, and he has contemplated a $10 billion deal, though he later chose not to proceed. His diversified portfolio includes longstanding investments in major companies and remains robust amid market uncertainty.
At the Berkshire Hathaway annual meeting, he said his company had $345 billion of cash on hand, and he was close to a $10 billion deal recently, but decided to drop it for unspecified reasons.
Buffett's net worth has risen to $169 billion, up $26 billion this year, in part due to Berkshire Hathaway shares rising 19%, contrasting with the S&P's decline of almost 7%.
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