Warren Buffett will speak at the Berkshire Hathaway Annual Shareholders Meeting held in Omaha, Nebraska on May 3, 2025.
CNBC
Warren Buffett Berkshire Hathaway You’re trapped in a transaction to buy Western oil The Wall Street Journal reported Tuesday that the petrochem unit Oxychem is around $10 billion.
The potential deal that could be confirmed within days, according to the journal, could be Berkshire’s biggest since 2022, when it acquired insurance company Alleghany for $11.6 billion. The transaction was announced in March of that year and was completed in October 2022. Berkshire sits in a record $344 billion cash storehouse.
Buffett, 95, resigned as Berkshire CEO at the end of 2025, but he will remain as chairman. Greg Abel, successor to Buffett, CEO of Berkshire Hathaway Energy, is known for his strong expertise in the energy industry.
Despite reports from the journal, shares in Houston-based Occidental fell 1.8% on Tuesday.
The Omaha, Nebraska-based conglomerate had more than $11 billion in Occidental Stock, or 28.2% stake as of the end of June. Buffett, 95, previously said he lacked complete control over the oil company founded by the legendary Oilman Armando Hammer.
In 2019, Buffett received preferred shares and warrants to help Bankroll Occidental purchase Anadarko oil with a $10 billion commitment and to purchase common stock in return.
The billionaire investor began purchasing Occidental common stock in the open market in early 2022 after reading the oil company’s revenue conference transcripts. He exploited the sophisticated volatility of Covid Pandemic to scooped up stocks at discounts.
Occidental also pays a dividend yield of 2% and invests in the carbon capture business.
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