Greg Abel’s first-quarter investments for Berkshire Hathaway include a $9.7 billion chemicals acquisition yielding strong early returns.
Berkshire Hathaway CEO Greg Abel made three significant investments in his first quarter, including a $9.7 billion acquisition of Occidental Petroleum’s chemicals business, Oxychem. The deal closed in January after Abel played a key role in negotiations, purchasing the unit at an estimated 8 times its 2025 EBITDA.
The acquisition aligns with valuations of peers like Dow and Eastman Chemical at the time, reflecting a strategic entry near the bottom of the chemical industry’s earnings cycle. Abel’s moves signal continuity with Warren Buffett’s value-driven approach while demonstrating early success in capital deployment.
Berkshire’s equity portfolio and operating businesses remain under Abel’s oversight, with the Oxychem deal marking a high-profile start to his tenure.