Buffett’s Cash Hits Record $157 Billion Amid Scarce Deals

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(Bloomberg) — Berkshire Hathaway Inc.’s cash pile scaled a fresh record at $157.2 billion, bolstered both by elevated interest rates and a dearth of meaningful deals where billionaire investor Warren Buffett could put his money to work. 

The hoard — which Berkshire has largely parked in short-term Treasuries — hit its highest level since the third quarter of 2021, the Omaha, Nebraska-based firm said on Saturday. The conglomerate also reported operating earnings of $10.76 billion, a jump on the prior year, as it benefited from the impact of elevated interest rates on the cash pile and gains at its insurance businesses.