TLDR
- Berkshire Hathaway has resumed stock buybacks for the first time since Q2 2024
- New CEO Greg Abel personally bought $15.3 million in Class A stock — his entire after-tax salary
- Abel consulted Warren Buffett before starting the repurchases
- Berkshire closed 2025 with $373.3 billion in cash; Abel said buybacks “make more sense” than other purchases right now
- Abel ruled out crypto, calling it lacking in intrinsic value
Berkshire Hathaway’s new CEO Greg Abel has wasted no time putting his stamp on the company — and his wallet behind it.
Berkshire Hathaway Inc., BRK-B
Berkshire announced Thursday that it had resumed stock buybacks, the first time it has repurchased its own stock since the second quarter of 2024. Abel disclosed the move in a CNBC interview, calling it a “one-time” announcement that he felt was necessary given the leadership transition.
Under Berkshire’s existing buyback policy, repurchases can happen when the CEO — after consulting with the board chairman — determines the price is below intrinsic value. Abel confirmed he spoke with Buffett before acting.
“I absolutely talked to Warren,” Abel said.
Buffett, who stepped down at the start of 2026 after six decades running the company, reportedly responded to Abel’s personal buying plan by saying: “No one else in corporate America does this. This is so Berkshire.”
Abel also filed a separate disclosure showing he personally purchased 21 Class A shares for $15.3 million — every dollar of his after-tax compensation for the year.
He said on CNBC he plans to do the same every year he remains CEO. He now holds 249 Class A shares worth roughly $189 million.
Abel and other Berkshire executives receive no stock-based compensation. Any stock he owns must be bought in the open market with his own cash.
He is not short on resources. In June 2022, Abel sold a 1% stake in Berkshire Hathaway Energy back to the company for $870 million. He then used a portion of those proceeds to buy more than $100 million in Berkshire stock in 2022 and 2023.
Why Buybacks Now?
Berkshire ended 2025 with $373.3 billion in cash and Treasury holdings, down slightly from a record $381.7 billion at the end of Q3. That’s a lot of firepower sitting on the sidelines.
Abel said the scale of that cash position made buybacks the most logical move right now — more so than acquisitions or other investments.
The last time Berkshire bought back stock, in the first half of 2024, it spent $2.9 billion. Abel did not say how much would be spent this time around or how long the program would last.
Berkshire’s Class B shares rose around 1.9% Thursday to $496.36, while the S&P 500 edged slightly lower. The stock had been down 3% year-to-date through Wednesday.
What Abel Won’t Do
Abel was direct on one topic: crypto is not on the table.
“I don’t think you’ll see crypto,” he told CNBC. “I would never say never, but I just don’t see it.”
He cited a lack of intrinsic value as the reason, consistent with the position Buffett held throughout his tenure.
The buyback announcement comes days after Berkshire reported a tough Q4, with operating profit falling 30% and insurance underwriting income dropping more than 50%. The stock fell sharply on Monday following that report.
Abel addressed capital discipline directly in his first shareholder letter: “We will assess value carefully, act patiently, and hold for the long term — preferably forever.”
Berkshire Class B shares closed Thursday up 1.33%.
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