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Announcements

Berkshire Adds $100 Million to Cash Pile

(BRK.A), (BRK.B)

No matter how much Berkshire Hathaway seems to spend on stock purchases and acquisitions, it always seems to end up with even more cash. And you can add an additional $100 million to its cash pile.

Seritage Growth Properties, a national owner and developer of 161 retail, residential and mixed-use properties, announced that on August 5, 2022, the Company made a voluntary prepayment of $100 million toward its $1.6 billion term loan facility provided by Berkshire Hathaway Life Insurance Company of Nebraska. With the prepayment, $1.34 billion of the term loan facility remains outstanding.

At June 30, 2022, Berkshire’s insurance float was approximately $147 billion, relatively unchanged from the end of the prior quarter.

© 2022 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Announcements

Tom Murphy Resigns From Berkshire Board

(BRK.A), (BRK.B)

Tom Murphy, a member of Berkshire Hathaway’s Board of Directors since 2003, has resigned from Berkshire’s Board effective February 15, 2022.

Warren Buffett, Berkshire’s Chairman and CEO, issued the following statement. “Tom Murphy has taught me more about running a business than any other person. We have been friends and mental partners for more than 50 years. My only regret is that I didn’t meet him earlier. Tom phoned me today and said that recovering from a recent bout with Covid convinced him that he would feel more comfortable ending his activities at Berkshire. I accepted his wish. He will continue as a major shareholder and friend.”

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Categories
Announcements

Berkshire Hathaway Clarifies That Annual Meeting to Be Held in Omaha

(BRK.A; BRK.B) – Earlier this week, we issued a press release announcing that the Berkshire Hathaway Annual Shareholders Meeting to be held on April 30, 2022 will be an in-person meeting. Since that time, we have received many questions about the location of the meeting. We now realize that we made an error in our earlier press release in not being clearer with respect to what we had taken for granted. We would never consider holding our shareholder meeting anyplace other than Omaha. We could not have a better venue than the CHI Health Center or a better city than Omaha for hosting our event.

As was stated in the earlier press release, additional information about the meeting will be included in Berkshire’s 2021 Annual Report which is scheduled to be posted on the Internet on Saturday morning, February 26, 2022. If there are additional updates regarding the meeting, they will be posted on Berkshire’s website at www.berkshirehathaway.com. In addition, as has been done for the past several years, the meeting will again be webcast.

Categories
Announcements

Berkshire Plans Return to In-Person Annual Meeting

(BRK.A; BRK.B)

The Berkshire Hathaway Annual Shareholders Meeting will be held on Saturday, April 30, 2022. At this time, we are planning for an in-person meeting. In addition, as has been done for the past several years, the meeting will again be webcast. Additional information about the meeting will be included in Berkshire’s 2021 Annual Report which is scheduled to be posted on the Internet on Saturday morning, February 26, 2022. If there are additional updates regarding the meeting, they will be posted on Berkshire’s website at www.berkshirehathaway.com.