No. of Recommendations: 2
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About This Summary
Berkshire Hathaway’s new general counsel, Michael O’Sullivan, purchased 536 Class B shares for $250,000 on Wednesday.
The purchase follows Berkshire stock lagging behind the S&P 500, with Class B shares down 6.5% this year.
CEO Greg Abel, a billionaire, holds a Berkshire stake potentially less than 20% of his net worth, prompting calls for more buys.
Berkshire Hathaway’s new general counsel purchased $250,000 in his company’s stock on Wednesday. It was his first purchase since taking the job on Jan. 1.
Michael O’Sullivan bought 536 Class B shares
BRK.B
+0.18%
at an average price of about $468 per share and now holds 663 shares worth about $300,000, according to a Form 4 filing with the Securities and Exchange Commission late Wednesday.
O’Sullivan joined Berkshire
BRK.A
at the start of the year in a newly created general counsel position. Berkshire had previously relied on outside attorneys for most of its legal work.
Before Snap, O’Sullivan spent more than 20 years at Munger, Tolles & Olson, the firm co-founded by former Berkshire vice chairman Charlie Munger who died at 99 in 2023. Munger’s firm has done a good chunk of Berkshire’s legal work.
https://www.barrons.com/articles/berkshire-insider... 