Greg Abel deploys $4.5bn on Berkshire Hathaway buybacks in second quarter as CEO

Greg Abel, the new CEO of Berkshire Hathaway, deployed $4.5 billion on share buybacks in his second quarter leading the company. It marks one of the largest financial moves since Abel took over from Warren Buffett. The spending signals a shift in capital allocation strategy at Berkshire, which had been sitting on substantial cash reserves.