Occidental begins buying back Warren Buffett’s $10 billion in preferred stock

May 9, 2023

Separately, Buffett’s firm owns a 24% stake in Occidental common stock and is the company’s largest shareholder, according to data compiled by Bloomberg. Berkshire is willing to buy more Occidental common stock, Buffett said at its shareholder meeting in Omaha this month. However, he ruled out buying the oil producer outright.

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