"Buffett emphasized the resilience of Berkshire Hathaway's cash position, stating, 'We have $345 billion of cash on hand,' reflecting cautious optimism amidst market tremors."
"Buffett highlighted his long-term investment strategy by stating, 'We held on to many of our stocks for decades, and they have served us well through various market conditions.'"
Warren Buffett announced his intention to transition the CEO role at Berkshire Hathaway to Greg Abel, amidst growing concerns about the stock market influenced by fears of a global recession. Despite these market fluctuations, Buffett's net worth has surged to approximately $151 billion, primarily due to the performance of Berkshire Hathaway shares, which have increased by 19%. At the Berkshire annual meeting, he reported holding $345 billion in cash, indicating a potential for future investments, while also alluding to a recent $10 billion deal he chose not to pursue. Buffett remains a long-term investor with substantial holdings in diverse companies.
Read at 24/7 Wall St.
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