$100b Cash: Buffett’s Unwanted Milestone
While that figure highlights the staggering moneymaking ability of the businesses he’s collected over the years, it’s also a burden. Because Berkshire doesn’t pay a dividend and rarely buys back its own stock, Buffett is on the hook to find ways to invest those funds. “To put that money to work would be great,” said David Rolfe, chief investment officer at Wedgewood Partners, a money manager overseeing about $6 billion including Berkshire stock. But the “list of companies that he would like to own is very, very small.”
Buffett addressed the cash pile at Berkshire’s annual meeting in May, saying he hadn’t put his “foot to the floor” on an acquisition for a while and shouldn’t keep so much money earning next
to nothing for long periods.
Because Berkshire doesn’t pay a dividend and rarely buys back its own stock, Buffett is on the hook to find ways to invest those funds