Warren Buffett’s Successor, Greg Abel, Started His Tenure With a Bang by Dumping Amazon and More Than Tripling Berkshire’s Stake in a Virtual Monopoly The trillion-dollar company that Warren Buffett helped build, Berkshire Hathaway (NYSE: BRKA)(NYSE: BRKB), entered uncharted…
rritory in 2026. With the Oracle of Omaha retiring from the CEO role on Dec. 31, Berkshire has a new boss for the first time in well over half a century
Buffett’s successor, Greg Abel, hasn’t wasted any time making his presence felt. During the first quarter, Abel exited 16 positions, including e-commerce kingpin, Amazon (NASDAQ: AMZN). At the same time, he more than tripled his company’s stake in Google parent Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG), which has surged more than 15,500% since its initial public offering.
Amazon gets the heave-ho (and profit-taking is probably only part of the story) One of the more eye-popping first-quarter moves, as shown in Berkshire Hathaway’s Form 13F, was Abel green-lighting the sale of all 2,276,000 shares of Amazon. The argument can be made that this move was telegraphed. Buffett, in his final quarter as CEO, dumped 77% of Berkshire’s stake in Amazon.