ICYMI: Berkshire Hathaway's CEO Greg Abel said he will use all of his take-home pay to acquire the conglomerate’s stock for as long as he’s in the role.
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In Berkshire news, Chief Executive Officer Greg Abel vowed to keep Warren Buffett’s guiding principles intact and sought to reassure investors that the company would outlast the legendary executive.
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Tomorrow, his conglomerate will publish its traditional annual letter. But for the first time in more than six decades, the missive won’t be written by #Buffett himself. His successor, Greg Abel, will be the author instead.
What to expect in the story below, stay tuned!
Warren Buffett enthusiasts are about to get a taste of what life at Berkshire Hathaway looks like without its legendary chief executive officer.
Story with @michellema.bsky.social
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PacifiCorp, a utility owned by Berkshire Hathaway, has been facing mounting liabilities since the 2020 Labor Day fires in Oregon. It's fighting back in an all-out battle in courts and state capitols.
One of the thorniest issues for Warren Buffett's successor Greg Abel is the increasing risk of wildfires across the Western US amid climate change.
US insurers have been rushing to buy forward contracts on the dollar as they seek to hedge against the greenback’s increased volatility since the start of the year.
#usd #dollar #hedging
www.bloomberg.com/news/article...
In Warren Buffett news today:
Berkshire Hathaway slashed its stake in Amazon by more than 75% in the fourth quarter, while also building a stake in the New York Times, Buffett’s last new bet as chief executive officer of the conglomerate.
www.bloomberg.com/news/article...
Stenn, the Wall St.-backed invoice-finance firm, was owed ~$1b when it collapsed in Dec. 2024. This was supposedly made up of short-term invoices owed by big corps around the world. Yet admins have only tracked down £93m of it so far. Story via @bloomberg.com
Gift link here: tinyurl.com/ycx5ad2j
This comes with a flurry of challenges. The main one: trying to leave his mark on an empire that was envisioned, created and shaped by Warren #Buffett — without the unparalleled admiration and leniency investors afforded the so-called Oracle of Omaha.
When Greg Abel takes over the reins of Berkshire Hathaway next year, he will oversee a $1 trillion conglomerate with a whooping $382 billion war chest.
New development in the PHL saga: State Farm faces a lawsuit accusing it of fraud and unjust enrichment for selling PHL products
www.bloomberg.com/news/article...
JOIN US TODAY: Do you know where your life insurance money is? As private equity firms take control, they're charting a new Wall Street playbook for your retirement.
Bloomberg journalists answer your questions on Nov. 21 at 11 a.m. EST. Stream the Live Q&A here: bloom.bg/3LQxFgh
Day 4 (and last one!) of our series this week on Wall Street's insurance playbook.
Today I'm looking at how private equity's $700 billion takeover on US life insurance is sparking fears of systemic risk.
www.bloomberg.com/features/202...
Today, @laura-benitez.bsky.social and Scott Carpenter are looking at how the retirement savings of ordinary Americans are used to provide a lifeline to private equity funds, in the form of an esoteric type of financing: NAV loans.
Day 3 of our series on how Wall Street is transforming the US life insurance industry.
Thanks Ian!
I've spoken with policyholders who are fearing life-changing losses.
www.bloomberg.com/features/202...
Today, we're looking at the story of PHL Variable Insurance Company – a cautionary tale of what can go wrong when private equity expands into life insurance. Almost a decade after its takeover, authorities estimate the entity is facing a $2.2 billion shortfall.
Day 2 of @bloomberg.com's series on how Wall Street is reshaping the world of US life insurance.
Link to the story from Tom Schoenberg, Weihua Li
and myself below
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Today, we're looking at how #privateequity firms and other alternative asset managers are reshaping the once-staid world of life insurance, shepherding hundreds of billions of dollars to #Bermuda entities that lose US protections while making opaque, complex bets.
This week, @bloomberg.com is running a series of stories on how the US retirement promise has been quietly rewritten by #WallStreet.
In 2024, Egan-Jones says it graded more than 3,000 private credit deals… with a team of about 20 analysts. Industry insiders worry trouble is brewing.
Read our Big Take, by Silas Brown, @laura-benitez.bsky.social and myself below.
www.bloomberg.com/news/article...
Chubb CEO Evan Greenberg called for a “coherence of policy” to dispel confusion around President Donald Trump’s approach to trade, saying predictability is essential for economic growth.
www.bloomberg.com/news/article...
Berkshire Hathaway’s stock sailed through a turbulent trading session Thursday, falling only slightly while indexes across the globe plummeted on President Donald Trump’s sweeping tariff plans.
Here's why
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