Greg Abel, who is in line to eventually succeed Warren Buffett as chief executive officer of Berkshire Hathaway Inc., has been building his stake in the conglomerate he expects to oversee one day.
Abel acquired about $68 million of stock late last month, according to filings Monday. The Class A shares closed at $413,300 Monday in New York.
The purchases may begin to address a concern raised by shareholders: Abel, who oversees Berkshire’s non-insurance businesses, hasn’t been a major holder of the stock, unlike the company’s long-time leader. The heightened ownership stake increases his skin in the game more than a year after being officially named as the most likely successor to replace the 92-year-old Buffett when he steps down.