Warren Buffett announced his intention to transition the CEO role at Berkshire Hathaway to Greg Abel, amidst growing concerns about the stock market influenced by fears of a global recession. Despite these market fluctuations, Buffett's net worth has surged to approximately $151 billion, primarily due to the performance of Berkshire Hathaway shares, which have increased by 19%. At the Berkshire annual meeting, he reported holding $345 billion in cash, indicating a potential for future investments, while also alluding to a recent $10 billion deal he chose not to pursue. Buffett remains a long-term investor with substantial holdings in diverse companies.
Buffett emphasized the resilience of Berkshire Hathaway's cash position, stating, 'We have $345 billion of cash on hand,' reflecting cautious optimism amidst market tremors.
Buffett highlighted his long-term investment strategy by stating, 'We held on to many of our stocks for decades, and they have served us well through various market conditions.'
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