economy

January 13, 2026

Warren Buffett was still searching for that elephant to buy in his final months as Berkshire CEO

Warren Buffett, who handed over the CEO reins to Greg Abel at the start of 2026, made it clear that size is not the constraint, opportunity is.

Warren Buffett was still searching for that elephant to buy in his final months as Berkshire CEO

TL;DR

  • Warren Buffett is stepping down as CEO of Berkshire Hathaway at the end of 2026, with Greg Abel taking over.
  • Berkshire Hathaway has amassed a record $381.6 billion in cash reserves.
  • Buffett is actively seeking a large acquisition but finds a lack of suitable opportunities at sensible prices.
  • The company recently purchased Occidental Petroleum's chemical business for $9.7 billion.
  • Buffett views cash as a necessary but poor long-term asset, preferring to invest in businesses.
  • Greg Abel, a key figure in energy acquisitions, faces the challenge of deploying Berkshire's substantial cash reserves.
  • Berkshire's shares have underperformed the market, potentially increasing pressure on Abel to invest capital.

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