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The Independent UK
The Independent UK
National
Josh Funk

Berkshire Hathaway's profits rise 17% as Warren Buffett prepares to step down as CEO

Warren Buffett Berkshire Berkshire Hathaway Greg Abel Cathy Seifert Jim Shanahan Hurricane
Berkshire Hathaway - (Copyright 2023 The Associated Press. All rights reserved)

The profits of Warren Buffett 's company improved 17% thanks to a relatively mild hurricane season and more paper investment gains this year as Berkshire Hathaway prepares for the legendary 95-year-old investor to relinquish the CEO title in January.

But last month's $9.7 billion investment in OxyChem won't do much to diminish the $381.7 billion cash pile that Berkshire was sitting on at the end of September even though it is the biggest deal the company has made in years.

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