Warren Buffett, the legendary US investor, is known for his penchant for hoarding money rather than spending it. His holding company, Berkshire Hathaway, currently boasts an impressive reserve of $189 billion in cash and short-term government bonds. At the annual shareholder meeting in Omaha, Buffett made it clear that he has no plans to retire just yet, despite the passing of his long-time business partner Charlie Munger in November. Instead, he has designated Greg Abel as his preferred successor and given him final say on investment decisions.
Last quarter, Berkshire made a bold move by acquiring a stake in the troubled Hollywood group Paramount. While Buffett admitted that both the entry and exit decisions were his own, he expressed concern about the potential risk of fraud with artificial intelligence. In particular, he warned about the creation of deceptively realistic artificial photographs of people and their potential harm. Despite this concern, however, Buffett also emphasized the potential for both good and harm with artificial intelligence and highlighted its uncertain outcome.
In addition to its investments in Paramount and Apple (which saw a reduction in value from $174.3 billion at the end of 2023 to $135.4 billion as of March 31), Berkshire also owns several well-known companies such as insurer Geico, railway company BNSF, and battery manufacturer Duracell. With its vast portfolio of companies and investments, Berkshire Hathaway remains a formidable force in the business world today.
