Berkshire Hathaway has purchased nearly $600 million worth of stock in Occidental Petroleum this week, according to an SEC filing published on Wednesday evening.
After adding 10.5 million shares this week, the conglomerate owned by investor Warren Buffett (currently the fourth-richest man in the U.S.) now owns 26% of shares in Occidental Petroleum, with a value of around $14 billion at Wednesday's stock price at closing. Berkshire Hathaway first built its stake in Occidental in early 2022, and received regulatory approval to acquire up to 50% of the company later that year.
