Buffett-era Berkshire buys back record $9.6 billion in stock as AI selloff hits markets
The gist
Berkshire Hathaway, now led by Greg Abel, repurchased about $9.6 billion of its own stock last quarter, its largest ever.
Its shares rose over 5% while AI fears dragged the S&P 500 down 2.7% for the week.
How it unfolded
- May 3, 2025Buffett surprises investors at the annual shareholders meeting with plans to step down as CEO at the end of that year; Berkshire shares had closed at a record the Friday before.
- Jan 2026Greg Abel takes over as Berkshire Hathaway CEO.
- May 2, 2026At Berkshire's annual meeting in Omaha, Buffett says in a CNBC interview, "We've never had people in a more gambling mood than now."
Key terms
- buyback
- A company's reacquisition of its own shares, an alternative way of returning money to shareholders instead of dividends.
- S&P 500
- A stock market index tracking the performance of 500 large US companies listed on American exchanges.
- chairman emeritus
- An honorary title given to someone who has retired from a distinguished position, allowing them to keep using the previous title.
Source: Wikipedia