Profits at Warren Buffett’s Berkshire Hathaway drop as it writes down its Kraft Heinz investment

Berkshire Hathaway reported a significant profit decline in Q2, earning $12.37 billion due to a $3.76 billion writedown on its Kraft Heinz stake, as the food company considers reversing its merger. Despite this, Berkshire’s operating earnings slightly decreased to $11.16 billion, surpassing analyst expectations, while CEO Warren Buffett prepares to transition leadership to Vice Chairman Greg Abel later this year.

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