Berkshire Hathaway Invests $350M in New York Times

Buffett's company also increased stake in Chevron as U.S. moved to reinvigorate Venezuela's oil industry

Published on Feb. 20, 2026

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Five years after Warren Buffett's Berkshire Hathaway sold off all of its newspaper holdings, the company has disclosed a new $350 million investment in the New York Times. The move comes as Berkshire also increased its investment in Chevron, just before the U.S. took action to boost Venezuela's oil production. Berkshire also continued trimming its stakes in Bank of America and Apple during the last quarter of 2025.

Why it matters

Buffett's investment in the New York Times represents a surprising reversal, as he had previously predicted unending declines for most of the newspaper industry. The move signals Buffett's belief in the Times' successful digital transformation and its potential as a 'digital news powerhouse'. Meanwhile, Berkshire's increased stake in Chevron positions the company to benefit from any changes in Venezuela's oil industry.

The details

Berkshire Hathaway disclosed the new $350 million investment in the New York Times as part of its quarterly stock portfolio filing with the SEC. The company also increased its stake in Chevron by about 8 million shares, giving it over 130 million shares in the oil giant. Berkshire continued selling off shares of Bank of America and Apple, though it still holds significant positions in both companies.

  • Berkshire sold off all of its newspaper holdings in 2020.
  • Berkshire disclosed the new $350 million investment in the New York Times in the last quarter of 2025.
  • The U.S. took action to reinvigorate Venezuela's oil industry just before Berkshire increased its stake in Chevron.

The players

Warren Buffett

The chairman and CEO of Berkshire Hathaway, who previously predicted unending declines for most of the newspaper industry.

Berkshire Hathaway

The conglomerate holding company that owns dozens of companies outright, including insurance giants like GEICO, major utilities, BNSF railroad, and many manufacturing and retail companies.

New York Times

A national news brand that has successfully transformed into a 'digital news powerhouse' with popular digital offerings like Wordle and The Athletic.

Chevron

The only major American oil company with significant operations in Venezuela, where it produces about 250,000 barrels of oil per day through joint ventures with the state-owned company PDVSA.

Greg Abel

The new CEO of Berkshire Hathaway, taking over from Warren Buffett in January.

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What they’re saying

“It's a full circle moment for Berkshire Hathaway in reinvesting in news and a huge vote of confidence by Berkshire in the business strategy of the New York Times.”

— Tim Franklin, Professor and chair of local news at Northwestern University's Medill School of Journalism (riverbender.com)

What’s next

Berkshire's increased stake in Chevron could position the company to benefit from any changes in Venezuela's oil industry following the U.S. government's recent actions.

The takeaway

Buffett's investment in the New York Times signals his belief in the company's successful digital transformation, even after previously predicting unending declines for the newspaper industry. This move, along with Berkshire's increased stake in Chevron, demonstrates the conglomerate's willingness to adapt its investment strategy to capitalize on emerging opportunities in the evolving media and energy landscapes.