Berkshire Hathaway Inc. (NYSE: BRK.A) (NYSE: BRK.B), under the leadership of Warren Buffett, has recently increased its stake in Sirius XM Holdings Inc., becoming the largest shareholder with over 35% ownership. Between Jan. 30 and Feb. 3, 2025, Berkshire purchased an additional 2.3 million shares for $54 million, reflecting confidence in Sirius XM’s growth trajectory.
In a strategic move following the passing of Vice Chairman Charlie Munger, Berkshire is transitioning some legal responsibilities from Munger, Tolles & Olson to Baker McKenzie. This shift includes assigning Baker McKenzie as legal counsel for potential bond sales, indicating a reevaluation of the conglomerate’s legal partnerships.
Despite anticipating a record annual operating profit, Berkshire announced a reduction of over 4,000 jobs in the past year, bringing its workforce to approximately 392,000 employees. The company did not specify which subsidiaries were affected by these cuts.
In the philanthropic arena, Warren Buffett continued his tradition of giving by donating over $1.1 billion in Berkshire Hathaway stock to his family’s foundations. At 94, Buffett has outlined plans to distribute his $147 billion fortune within ten years of his passing, emphasizing the importance of proactive estate planning.
As of Feb. 5, 2025, Berkshire Hathaway’s Class B shares (BRK.B) are trading at $471.82, reflecting a slight increase from the previous close.
For more information, visit the company’s website at www.BerkshireHathaway.com
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