Warren Buffett’s Likely Successor Buys $24.6 Million in Berkshire Stock

Berkshire Hathaway

executive Greg Abel, the heir apparent to CEO Warren Buffett, bought $24.6 million of Berkshire shares on Friday, bringing the total value of his stake in the company to about $105 million, according to a regulatory filing on Tuesday.

Abel, who heads the non-insurance operations of Berkshire (ticker: BRK.A, BRK.B), purchased 55 class A shares at a price of $447,259 on Friday, lifting his stake in the A shares to 228 shares. He also owns 2,263 class B shares. Berkshire shares rose 1% Tuesday to $460,515, and the B shares gained 0.9% to $303.85.