Berkshire Hathaway's Surprising Alphabet Stake, Buffett's Leadership Transition

Berkshire Hathaway makes a surprising move, investing nearly five billion dollars in Alphabet, Googles parent company, marking its largest portfolio addition in the third quarter. This unexpected purchase, led by Warren Buffett or potentially new CEO Greg Abel, has caused Alphabets stock to jump. Meanwhile, Berkshire reduces its long-held positions in Apple and Bank of America. In other news, Buffett announces a leadership transition, with Abel taking over annual shareholder letters, and plans to increase lifetime gifts to his childrens foundations.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.