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Berkshire Hathaway reaches new highs despite Buffett's departure
Berkshire Hathaway's shares reached record levels exceeding $543.06, as the market recovered after investors hesitated over Warren Buffett's resignation from the company he led for six decades. This boosted market confidence in the new leadership under Greg Abel, who has begun deploying the company's substantial cash reserves by repurchasing shares worth more than $4.5 billion and making significant investments such as the $6.8 billion acquisition of Taylor Morrison Home and supporting Alphabet's multi-billion-dollar investments in artificial intelligence. The third-quarter results are expected to be announced in November. The record-breaking performance indicates that markets trust the management's ability to grow assets despite the absence of the historic leadership.
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