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Berkshire Hathaway’s new general counsel, Michael O’Sullivan, purchased 536 Class B shares for $250,000 on Wednesday.

The purchase follows Berkshire stock lagging behind the S&P 500, with Class B shares down 6.5% this year.

CEO Greg Abel, a billionaire, holds a Berkshire stake potentially less than 20% of his net worth, prompting calls for more buys.

Berkshire Hathaway’s new general counsel purchased $250,000 in his company’s stock on Wednesday. It was his first purchase since taking the job on Jan. 1.

Michael O’Sullivan bought 536 Class B shares
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+0.18%

at an average price of about $468 per share and now holds 663 shares worth about $300,000, according to a Form 4 filing with the Securities and Exchange Commission late Wednesday.

O’Sullivan joined Berkshire
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at the start of the year in a newly created general counsel position. Berkshire had previously relied on outside attorneys for most of its legal work.

Before Snap, O’Sullivan spent more than 20 years at Munger, Tolles & Olson, the firm co-founded by former Berkshire vice chairman Charlie Munger who died at 99 in 2023. Munger’s firm has done a good chunk of Berkshire’s legal work.

barrons.com - Berkshire insider buys stock