Warren Buffett's Successor, Greg Abel, Just Plowed $27 Million Into a Virtual Monopoly (No, Not Alphabet!)

Greg Abel, who took over Berkshire Hathaway after Warren Buffett's retirement, bought $27 million of Sirius XM stock, lifting the company's stake to more than 37% of SIRI. Berkshire trades as BRK.A and BRK.B.

The purchase signals conviction from the new leader. Abel's attraction centers on SIRI's standing as a legal monopoly in its niche, a position that limits direct competition for its core service.

The revenue mix is the second draw. Subscriptions account for 76% of SIRI's revenue, with advertising making up the remainder. Subscription income typically holds steadier through economic downturns than ad spending, which gives the cash flow more stability. That is interpretation, but it fits the case Abel appears to be making: recurring revenue over cyclical revenue.

Valuation rounds out the thesis. SIRI trades at roughly 10x 2027 forecast earnings, a modest multiple for a business with those characteristics.

The headline's "No, not Alphabet!" nod points to the contrast with the Alphabet share classes (GOOG, GOOGL, GOOGM, GOOGN), but the reported move here is in SIRI, not in Alphabet.

A stake above 37% also means Berkshire holds meaningful influence over the company. Interpretation: buying at this scale, rather than trimming, suggests Abel sees the current price as attractive relative to the 10x forward multiple.