Berkshire Hathaway's new CEO makes a one-time-only announcement: We're buying back stock

By Tomi Kilgore

CEO Greg Abel said on CNBC don't expect Berkshire to buy into the cryptocurrency market: 'I would never say never, but I just don't see it.'

Berkshire Hathaway's new CEO, Greg Abel (R), said the company started buying back shares this week. And he spent all of his take-home pay doing the same.

For the first time in nearly two years, Berkshire Hathaway sees enough value in its shares that it has "recommenced" repurchases, according to new CEO Greg Abel.

Although the conglomerate (BRK.B), which had been run until this year by legendary investor Warren Buffett for six decades, doesn't usually disclose stock buybacks as they happen, Abel said in a CNBC interview that he felt it was important to make the announcement, given the change in leadership. But, he stressed, this disclosure was a "one-time event."

He said the repurchases started on Wednesday, but would not say how long they will continue, or how much will be purchased. The last time repurchases were made, in the first half of 2024, Berkshire spent $2.9 billion. Berkshire has had a longstanding policy of share repurchases, but only if the estimated "intrinsic value" of the shares crossed a certain undisclosed threshold.

The decision to start buying again wasn't Abel's alone. He said he "absolutely" consulted with Buffett before pulling the trigger.

Berkshire's Class B shares rose 1.2% in premarket trading. They had lost 3% in 2026 through Wednesday, after falling 2.2% in 2025. In comparison, the S&P 500 index SPX has edged up 0.4% this year and rallied 17.6% last year.

The repurchases come less than a week after the company said it had a cash pile of $373.3 billion as of Dec. 31, down slightly from the record $381.7 billion held at the end of September. With all that ammunition for investing, Abel said it "makes more sense to repurchase" than make other purchases.

Abel is also putting his money where his mouth is.

In a separate disclosure, Abel said he spent $15.3 million - all of his take-home pay from last year - to buy Berkshire's Class A shares (BRK.A). He said on CNBC that he was committed to "doing this every year, going forward, my entire salary, as long as I'm CEO."

He said alignment with shareholders is critical, and this was his way of demonstrating his interests were aligned with theirs.

When asked on CNBC what Buffett thought of his plan, Abel said Warren's response was: "No one else in corporate America does this. This is so Berkshire."

Meanwhile, Abel said that one thing Berkshire won't be exploring is the cryptocurrency market, as he doesn't see the intrinsic value.

"I don't think you'll see crypto," Abel said when asked about what Berkshire might use its cash for. "I would never say never, but I just don't see it."

Abel was mum, however, on his view about the overall market. Asked whether he saw other opportunities to put money to work, he just said Berkshire was also looking at investment options.

-Tomi Kilgore

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