Buffett's cash mountain tops $50bn.
Bloomberg News reports that cash at his Berkshire Hathaway rose past $50bn at the end of June, the first time it finished a quarter above that level since he became chairman and chief executive officer more than four decades ago.
Buffett, 83, has struck some of his biggest deals in the last few years, adding to the earnings Berkshire already gets from operating businesses including auto insurer Geico and railroad BNSF, which was acquired in 2010. Second-quarter net income rose 41% to $6.4bn, the company said in an August 1 regulatory filing.
When opportunities do arise, Buffett has shown he can move decisively. The cash pile fell to $35.7bn on June 30 last year as he teamed up with buyout firm 3G Capital to take HJ Heinz Co. private. In 2011, it dipped to a similar level when he spent $10.9bn amassing a stake in International Business Machines Corp.
While Buffett has said that low yields made him avoid bonds, not even stocks have tempted him much this year.
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