Berkshire Hathaway's New CEO Greg Abel Puts Cash to Work

Berkshire Hathaway is a very big company that owns lots of other companies, like insurance, railroads, and energy businesses.

For a long time, a famous investor named Warren Buffett was in charge.

This year, Buffett retired and a new boss named Greg Abel took over.

Berkshire keeps a huge pile of cash, like a giant piggy bank.

Abel decided to put some of that cash to work.

He gave $10 billion to Google's parent company to support its artificial intelligence investments.

Berkshire also bought back about $4.5 billion of its own shares, which means the company buys its own stock to help investors.

Because of these moves, the company's cash pile shrank to $365.5 billion, but it is still enormous.

Berkshire also bought a homebuilding company called Taylor Morrison.

The company made a lot of money this quarter, and its overall profit more than doubled.