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Warren Buffett to Step Down as CEO of Berkshire Hathaway
Warren Buffett will step down as CEO of Berkshire Hathaway at the end of 2023, concluding a tenure that has yielded market-beating returns since 1965. An investment of $500 at the start of his leadership would now be worth approximately $25.2 million, compared to $196,656 in the S&P 500.
Investment Adjustments in Tech Stocks
Despite a historical reluctance to invest in tech, Buffett’s team recently added a third company from the “Magnificent Seven,” now totaling three tech giants representing 23.4% of Berkshire’s $309 billion equity portfolio: Apple (21%), Alphabet (1.6%), and Amazon (0.8%). Amazon Web Services reported $33 billion in revenue in the third quarter, reflecting a 20% year-over-year growth.
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