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☆ Warren Buffett flaunts his green investment thumb
▼ + stars: | 2023-07-17 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

NEW YORK, July 17 (Reuters Breakingviews) - How does Warren Buffett allocate capital? Buffett noted a few years ago how electric utilities need a “massive makeover” involving costs that would chew up BHE’s earnings for decades. Natural gas will also become increasingly important as a backup fuel. Unlike most utilities, BHE doesn’t have to pay a dividend – and neither does Berkshire, because of the faith investors have in the $750 billion company. This frees up capital, giving Buffett an edge where capex and acquisitions are concerned.

Persons: Warren Buffett, Buffett, Greg Abel, Jeffrey Goldfarb, Sharon Lam Organizations: YORK, Reuters, Berkshire Hathaway, Berkshire Hathaway Energy, Dominion, Chevron, Occidental Petroleum, Twitter, Dominion Energy, Brookfield Infrastructure Partners, Thomson Locations: Berkshire, Brookfield

☆ Berkshire Hathaway takes control of LNG facility as Buffett ups bet on energy infrastructure
▼ + stars: | 2023-07-11 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Berkshire Hathaway Energy has agreed to purchase a 50% stake in the Cove Point liquefied natural gas facility for $3.3 billion in cash. Warren Buffett's big energy and utility division bought the stake from Dominion Energy and will now own a 75% limited partnership stake in Cove Point LNG located in Lusby, Maryland. The Cove Point LNG Terminal has a storage capacity of 14.6 billion cubic feet and a daily send-out capacity of 1.8 billion cubic feet. Berkshire Hathaway first bought a stake in Dominion's gas pipeline and storage assets for $4 billion in 2020. Abel is now vice chairman for noninsurance operations at Berkshire Hathaway and the successor to the 92-year-old "Oracle of Omaha."

Persons: Warren Buffett's, Bill Stone, Buffett, Berkshire Hathaway, Greg Abel, Tom Farrell, Abel, Stone Organizations: Berkshire Hathaway Energy, Dominion Energy, Brookfield Infrastructure Partners, Glenview Trust, Sumitomo Corp, CNBC, Berkshire Hathaway, Oracle, Occidental Petroleum, Chevron Locations: Point, Lusby , Maryland, Berkshire, U.S, Glenview, Omaha, Iowa

☆ 100 million Squishmallows sold in a year — How the toy sensation joined Warren Buffett's conglomerate
▼ + stars: | 2023-07-02 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Shrewd business legend Warren Buffett has a whimsical side, buying companies whose products he personally enjoys like Dairy Queen and See's Candies. Berkshire inherited Squishmallows parent Jazwares through its acquisition of Alleghany in the fourth quarter of 2022. Jazwares founder and president, Judd and Laura Zebersky, now report to and are in regular communication with Greg Abel, Berkshire's vice chairman for non-insurance operations and Buffett's successor. We're thrilled to be part of it," Laura Zebersky said in an interview. Often Buffett admires the business' management and expects it to continue to grow and remain profitable.

Persons: Warren Buffett, Squishmallows, Charlie Munger, Judd, Laura Zebersky, Greg Abel, Berkshire's, Buffett, Abel's, he's, Abel Organizations: Berkshire Hathaway, Berkshire Locations: Omaha , Nebraska, Omaha, Charlie Munger . Berkshire, Alleghany, South Florida

☆ How TikTok sensation Squishmallows found Warren Buffett
▼ + stars: | 2023-05-13 | by ( Jonathan Stempel | ) www.reuters.com time to read: +4 min

May 13 (Reuters) - Squishmallows joined Warren Buffett's business empire two years after Lady Gaga, Kim Kardashian and others helped make the plush stuffed toys a viral sensation on TikTok. They married in 1993 and embarked on law careers, but Judd Zebersky soon realized that wasn't his destiny. Laura Zebersky, a litigator, sold her practice in 2005 and joined him, becoming Jazwares' president. "This was a brand that needed a lot of love," Judd Zebersky said. "Greg is exactly what we have all learned about the Berkshire model," Laura Zebersky said.

☆ UBS shares its 5 top takeaways for investors from Berkshire Hathaway's 'best annual meeting in years' — including how Warren Buffett's successor will take over
▼ + stars: | 2023-05-09 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Berkshire Hathaway had a successful annual meeting following its Q1 earnings report. Warren Buffett's Berkshire Hathaway had its "best annual meeting in years" over the weekend, according to UBS analyst Brian Meredith — and it wasn't just because of its strong earnings report. 5 top takeaways from Berkshire Hathaway's annual meetingStrong earnings results were just one impressive component from Berkshire Hathaway's annual meeting. "We viewed Berkshire's 2023 annual meeting as the best in several years with quality questions and insightful answers," Meredith wrote. After BNSF undershot on volumes and suffered from higher compensation costs, Berkshire investors may start to wonder if the company would reconsider its stance against PSR.

☆ Warren Buffett's rival for attention at Berkshire weekend: Squishmallows
▼ + stars: | 2023-05-08 | by ( Jonathan Stempel | ) www.reuters.com time to read: +4 min

[1/2] Investors and guests walk by a Squishmallow display during the Berkshire Hathaway Inc in Omaha, Nebraska, U.S. May 5, 2023. On Friday, the start of Berkshire Hathaway Inc's (BRKa.N) three-day shareholder weekend, thousands thronged a convention hall in downtown Omaha, Nebraska, for five hours to buy discounted products from many Berkshire-owned brands. For many, the $9.99 Squishmallows featuring Buffett and Munger, made by Berkshire's recently acquired toy company Jazwares, were the must-have memento. About 10,000 Buffett and Munger Squishmallows were sold, and by Monday they were fetching as much as $255 at auction on eBay. Reporting by Jonathan Stempel in Omaha, Nebraska Editing by Megan Davies and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Buffett’s imprint on Berkshire reaches its limit
▼ + stars: | 2023-05-08 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

NEW YORK, May 8 (Reuters Breakingviews) - Warren Buffett gives off a zen vibe about Berkshire Hathaway (BRKa.N) after his time is up. They’ll have over a decade to wind down the inheritance, in effect insulating Berkshire’s new leaders while they leave their own imprint. The succession planning has been possible because of Buffett’s iron grip, and not everyone is happy about it. One shareholder, Peter Flaherty, proposed separating the chairman and CEO roles at Berkshire. Berkshire security may be able to shut down such dissent at its own shareholder meeting, but it can’t stifle the doubts about life after Buffett.

[1/9] Investors and guests arrive for the Berkshire Hathaway annual shareholders' meeting in Omaha, Nebraska, U.S. May 6, 2023. Speaking at Berkshire's annual shareholder meeting, Buffett criticized how politicians, regulators and the press have handled the recent failures of Silicon Valley Bank, Signature Bank and First Republic Bank, saying their "very poor" messaging has unnecessarily frightened depositors. At the meeting, Berkshire shareholders reelected all directors and rejected shareholder proposals concerning climate change, diversity and political activities. LIGHTED MATCHBuffett said regulators were right to guarantee depositors of Silicon Valley Bank, saying that not doing so "would have been catastrophic." He also said bank shareholders and executives should bear the risks of mismanagement, with Munger criticizing executives concerned more with getting rich than with customers.

Speaking at the annual meeting of his conglomerate Berkshire Hathaway Inc (BRKa.N), criticized how politicians, regulators and the press have handled the recent failures of Silicon Valley Bank, Signature Bank and First Republic Bank, saying their "very poor" messaging has unnecessarily frightened depositors. The meeting featured Buffett, 92, who is Berkshire's chairman and chief executive, and Vice Chairman Charlie Munger answering five hours of shareholder questions. LIGHTED MATCHBuffett said regulators were right to guarantee depositors of Silicon Valley Bank, saying that not doing so "would have been catastrophic." Buffett defended the size of Berkshire's $151 billion Apple investment, saying consumers are less likely to shed their $1,500 iPhones than, for example, their $35,000 second cars. Many recognized it could be one of their last chances to see Buffett and Munger, given their ages.

Buffett spoke hours after Berkshire posted a $35.5 billion quarterly profit and said it bought back $4.4 billion of its own stock, a sign it considered the shares undervalued. The meeting features Buffett, 92, who is Berkshire's chairman and chief executive, and Charlie Munger, 99, a vice chairman, answering five hours of shareholder questions. Many recognized it could be one of their last chances to see Buffett and Munger, given their advanced ages. Yongsheng Zhao, who lives in Shanghai and is a researcher for an asset management firm, said he showed up at midnight to attend his eighth Berkshire meeting. "I am inspired by their passion and normalcy," he said, referring to Buffett and Munger.

OMAHA, Nebraska, May 6 (Reuters) - Warren Buffett on Saturday offered a vote of confidence in the United States, saying he could not imagine the government letting it default on its debt and risk letting the world's financial system "go into turmoil." Buffett, 92, who is Berkshire's chairman and chief executive, and Charlie Munger, 99, a vice chairman, are answering five hours of shareholder questions at the meeting. Many recognized it could be one of their last chances to see Buffett and Munger, given their advanced ages. Yongsheng Zhao, who lives in Shanghai and is a researcher for an asset management firm, said he showed up at midnight to attend his eighth Berkshire meeting. "I am inspired by their passion and normalcy," he said, referring to Buffett and Munger.

☆ Warren Buffett set for 59th Berkshire Hathaway shareholder marathon as big questions loom
▼ + stars: | 2023-05-06 | by ( Jonathan Stempel | ) www.reuters.com time to read: +6 min

[1/2] Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc's annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. Tens of thousands of people are flocking to Omaha, Nebraska this weekend for the extravaganza that Buffett, 92, calls "Woodstock for Capitalists." "Charlie is 99 and Warren turns 93 on Aug. 30," Lountzis added, "and you just don't know how many more you're going to have." Buffett and Munger are due to answer five hours of shareholder questions at the meeting. "We believe in constructive engagement and dialogue, whether it's Warren Buffett or another company," Frerichs said in an interview.

☆ Warren Buffett: Greg Abel understands capital allocation as well as I do
▼ + stars: | 2023-05-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWarren Buffett: Greg Abel understands capital allocation as well as I doBerkshire Hathaway Chairman and CEO Warren Buffett and Vice Chairman Charlie Munger preside over the 2023 Berkshire Hathaway annual meeting. Buffett responds to a concern on whether Greg Abel, vice chairman for non-insurance operations at Berkshire Hathaway, has the same capital allocation acumen as him.

☆ Buffett on clean energy push: This country should be ahead of where it is
▼ + stars: | 2023-05-06 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBuffett on clean energy push: This country should be ahead of where it isBerkshire Hathaway Chairman and CEO Warren Buffett and Vice Chairman Charlie Munger preside over the 2023 Berkshire Hathaway annual meeting. Buffett and Greg Abel, vice chairman for non-insurance operations at Berkshire Hathaway, discuss clean energy.

☆ Berkshire's Ajit Jain says Geico is 'taking the bull by the horns' to improve telematics
▼ + stars: | 2023-05-06 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBerkshire's Ajit Jain says Geico is 'taking the bull by the horns' to improve telematicsBerkshire Hathaway Chairman and CEO Warren Buffett and Vice Chairman Charlie Munger preside over the 2023 Berkshire Hathaway annual meeting. Ajit Jain, vice chairman of Berkshire Hathaway's insurance operations and Greg Abel, vice chairman for non-insurance operations at Berkshire Hathaway discuss GEICO.

☆ Warren Buffett and Greg Abel respond to question on BNSF derailments
▼ + stars: | 2023-05-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWarren Buffett and Greg Abel respond to question on BNSF derailmentsBerkshire Hathaway Chairman and CEO Warren Buffett and Vice Chairman Charlie Munger preside over the 2023 Berkshire Hathaway annual meeting. Buffet's team responds to a question about train derailment incidents involving Norfolk Southern and BNSF this year. Berkshire owns BNSF Railway.

☆ Warren Buffett's successor Greg Abel is wooing shareholders, but some questions remain
▼ + stars: | 2023-05-05 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

To say that Warren Buffett's successor Greg Abel has big shoes to fill would be an understatement. The vice chairman for non-insurance operations at Berkshire Hathaway recently joined Buffett in Japan to visit the country's top trading houses. Skin in the gameAbel recently loaded up on Berkshire Hathaway shares with his personal assets. Berkshire acquired MidAmerican Energy in 1999, and Abel became CEO of MidAmerican Energy in 2008, six years before it was renamed Berkshire Hathaway Energy in 2014. How does dispute resolution work if there is a dispute," said a Berkshire shareholder, who spoke on the condition of anonymity.

☆ Berkshire director: Buffett CEO heir an ideal fit, but changeover not imminent
▼ + stars: | 2023-05-05 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

But Olson added that Abel is likely “a good number of years off” from taking over, with Buffett and Munger still on board. Buffett publicly designated him as his likely successor as CEO in 2021, after Munger appeared to let slip the board's thinking at that year's annual meeting. After Buffett departs, Berkshire is expected to name his eldest son Howard as non-executive chairman to preserve its culture, where business units operate essentially without interference from the top. Upon becoming CEO, Abel would likely experience "more formality" in his relationship with directors than Buffett, who took over in 1965, now has. "The bottom line is, not only is Warren satisfied, Charlie is satisfied that Greg ... will carry out that culture," he continued.

☆ Factbox: Warren Buffett, Berkshire Hathaway at a glance
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +8 min

[1/2] Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc's annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. REUTERS/Scott Morgan/File PhotoMay 4 (Reuters) - Tens of thousands of people are descending on Omaha, Nebraska to attend the annual shareholder weekend for billionaire investor Warren Buffett's Berkshire Hathaway Inc (BRKa.N). Susan Buffett and Howard Buffett are Berkshire directors. His Berkshire stock will go to philanthropy after he dies. (Interview with CNBC, April 12, 2023)Abel on Berkshire managers' relationship with him: "It's not the same as working for Warren.

☆ Buffett set for 59th shareholder marathon as big questions loom
▼ + stars: | 2023-05-04 | by ( Jonathan Stempel | ) www.reuters.com time to read: +6 min

[1/2] Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc's annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. Tens of thousands of people are flocking to Omaha, Nebraska this weekend for the extravaganza that Buffett, 92, calls "Woodstock for Capitalists." Buffett and Munger are due to answer five hours of shareholder questions at the meeting. "We believe in constructive engagement and dialogue, whether it's Warren Buffett or another company," Frerichs said in an interview. Reporting by Jonathan Stempel in Omaha, Nebraska; Editing by Will Dunham and Megan DaviesOur Standards: The Thomson Reuters Trust Principles.

☆ Berkshire Hathaway’s energy company is about to hit a major renewable energy milestone
▼ + stars: | 2023-04-22 | by ( Tim Mullaney | ) www.cnbc.com time to read: +3 min

With annual meeting season coming soon, Warren Buffett's climate record is back in the news – and activists are still not happy. Buffett's Berkshire Hathaway conglomerate faces three different shareholder resolutions heading into its annual "Woodstock for capitalism" on May 6. Buffett's climate metrics getting betterBerkshire is a climate paradox: Many of its climate metrics are improving rapidly, if not as fast as some competitors. Berkshire Energy spokesman Brandon Zero said the company would have no comment. But it still uses more coal, the dirtiest major electricity fuel – coal represents 23% of Berkshire's power mix – more than the national average of 20%.

☆ Warren Buffett says he worries about nuclear threats and more pandemics—but never the future of Berkshire Hathaway
▼ + stars: | 2023-04-21 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

Billionaire investor Warren Buffett says he worries about a few things. I worry about a pandemic in the future, all kinds of [things]," Buffett said. "99 and a fraction percent of my net worth in Berkshire," Buffett told "Squawk Box," adding that multiple of his family members also heavily invest in the company. "I worry about things nobody else worries about, but I can't solve them all," Buffett said. As for feeling secure about Berkshire's future, Buffett has already handpicked his company's next CEO — and his successor, Greg Abel, has said he doesn't plan to diverge from Buffett's winning formula.

☆ Berkshire Hathaway’s utility company is about to hit a major renewable energy milestone
▼ + stars: | 2023-04-21 | by ( Tim Mullaney | ) www.cnbc.com time to read: +3 min

With annual meeting season coming soon, Warren Buffett's climate record is back in the news – and activists are still not happy. Buffett's Berkshire Hathaway conglomerate faces three different shareholder resolutions heading into its annual "Woodstock for capitalism" on May 6. Buffett's climate metrics getting betterBerkshire is a climate paradox: Many of its climate metrics are improving rapidly, if not as fast as some competitors. Any discussion of Berkshire and climate necessarily begin with its utility business, since electricity production accounts for a quarter of U.S. greenhouse gas emissions. Berkshire Energy spokesman Brandon Zero said the company would have no comment.

Berkshire Hathaway vice president Gregory Abel bought nearly $25 million worth of Berkshire's class A stock last week, filings show. He previously bought $68 million worth of Berkshire stock in September. Berkshire's class A shares, and the "Baby Berkshire" class B shares, both have dropped about 3.4% this year, underperforming the S & P 500. Berkshire Hathaway vice chair Greg Abel bought $24.6 million worth of Berkshire's class A stock on March 17. Capri Holdings CEO John Idol bought nearly $10 million worth of stock on March 16.

☆ Warren Buffett's Berkshire Hathaway rejects call for silence on hot-button issues
▼ + stars: | 2023-03-17 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

March 17 (Reuters) - Berkshire Hathaway Inc (BRKa.N), run by billionaire Warren Buffett, on Friday urged shareholders to reject proposals that it avoid discussing hot-button social and political issues, and competing proposals that it disclose more about its climate change and diversity efforts. While Buffett's salary is low, his 15.6% Berkshire stake comprises most of his $101.6 billion net worth, which Forbes magazine said makes him the world's sixth-richest person. Berkshire's more than $60 billion of stock repurchases since the end of 2019 helps preserve Buffett's voting power. Abel would become chief executive and Buffett's son Howard Buffett would become non-executive chairman if Warren Buffett could not continue. Berkshire's businesses include Geico car insurance, the BNSF railroad, Berkshire Hathaway Energy, Dairy Queen, Fruit of the Loom and many others.

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