Warren Buffett considering $100B Berkshire stock buyback: Report
In an interview with The Financial Times, the “Oracle of Omaha” reportedly said the time “may come” when the company buys back as many as $100 billion worth of shares. No timeframe was specified.
Berkshire Hathaway did not immediately return FOX Business’ request for comment.
In the company’s 2018 letter to shareholders, it was suggested that stock repurchases would become more common.
“It is likely that – over time – Berkshire will be a significant repurchaser of its shares, transactions that will take place at prices above book value but below our estimate of intrinsic value,” Buffett wrote.
The company snapped up $1.3 billion worth of its own stock in 2018, after removing a cap on stock buybacks in July.
Berkshire has $700 billion in assets, with $112 billion in cash or cash equivalents, as reported by the FT.
In the interview, Buffett reportedly said he was not interested in starting to pay a dividend.
“I like the businesses we have, I like the people that run them, I like the shareholders we have. We have a very special — well, it’s a partnership,” he said.
Berkshire will hold its annual shareholders meeting in Omaha, Nebraska next weekend – a days-long event hosted by the billionaire investor.
At 88, Buffett told the FT that he thinks he has “more fun” than any other person his age in the world, calling his work a “vacation every day.”