Warren Buffett's Successor, Greg Abel, Just Plowed $10 Billion into this Magnificent Artificial Intelligence (AI) Stock
2026-06-03 16:00:47 ET
Here’s one trait emerging in the fledgling tenure of Greg Abel as CEO of Berkshire Hathaway (NYSE:BRKA) (NYSE:BRKB) : He’s not afraid to make big moves.
Abel, who’s been in the top job since Jan. 1 following the retirement of the legendary Warren Buffett, bought 36.4 million shares of Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) stock in his first three months on the job. That alone instantly made Alphabet one of Berkshire Hathaway’s biggest holdings, at roughly $20 billion. It was an extraordinary move considering how new Alphabet is to the Berkshire portfolio -- the conglomerate only opened its position in the third quarter of 2025.
But now Abel is doubling down on that bet, agreeing to buy another $10 billion in Alphabet stock through a private placement. The transaction includes buying $5 billion of Class A stock at about $352 per share and $5 billion of Class C stock at about $348 per share — a 6% discount to market prices.
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