Berkshire more than triples stock buybacks to $16bn as pandemic hits earnings
Berkshire’s businesses were hit by the pandemic in the third quarter, contributing to a 32% drop in operating profit
08 November 2020 - 22:13
New York — Warren Buffett might have just found his next elephant-sized deal: Buying back his own stock.
Berkshire Hathaway spent $16bn buying back its stock in the first nine months of 2020, more than triple its previous annual record. The repurchases even surpass many of Berkshire’s biggest investments in recent years, including 2019’s Occidental Petroleum financing deal, and total more than Berkshire has ever spent in one year buying Apple stock...
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