00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Greg Abel moved quickly in his first major stretch as Berkshire Hathaway's chief executive,
00:07committing nearly $17 billion across two deals in just a few days, according to CNBC.
00:14Berkshire agreed to acquire home builder Taylor Morrison Home for $6.8 billion,
00:19excluding debt, expanding its housing-related portfolio alongside Clayton Homes and other
00:24residential businesses. Berkshire also invested $10 billion in Alphabet through a discounted
00:29private placement, tied to the company's artificial intelligence fundraising effort,
00:33receiving a 6.5% discount to market price. The back-to-back deals come as Berkshire held a
00:39record cash pile of nearly $400 billion at the end of March. Warren Buffett praised Abel's speed,
00:46saying he completed the Taylor Morrison deal faster and smoother than Buffett could have.
00:50For all things money, visit Benzinga.com.
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