Warren Buffett's Cash Surge: Berkshire Hathaway's $277 Billion Stake

Warren Buffett's Berkshire Hathaway has increased its cash reserves to nearly $277 billion while posting a record quarterly profit. The growth, stemming partly from selling a large stake in Apple, highlights the conglomerate’s significant operating businesses. Despite a 15% rise in operating profit, net income fell due to fluctuating stock prices.

In a striking financial maneuver, Warren Buffett's Berkshire Hathaway has amassed a staggering $277 billion in cash reserves, coinciding with a record-breaking quarterly profit. The spike in cash, partly attributed to the sale of a substantial portion of its Apple stake, underscores Buffett's strategic shifts.

Berkshire Hathaway's second-quarter operating profit saw a robust 15% increase, reaching $11.6 billion, translating to roughly $8,073 per Class A share. This surge, driven by underwriting and investments within its insurance sector, marks a significant milestone for the conglomerate.

However, despite the operational gains, Berkshire's net income experienced a 15% decline, dropping to $30.34 billion from the previous year's $35.91 billion. The drop is linked to the fluctuating stock market values which impacted the overall investment portfolio, including holdings in Apple.

(With inputs from agencies.)