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Buffett Bets Big on Chevron, Dumps New York Times

  //food-wine.news-articles.net/content/2026/02/17 .. tt-bets-big-on-chevron-dumps-new-york-times.html
  Published in Food and Wine on Tuesday, February 17th 2026 at 19:59 GMT by The Independent
      Locales: UNITED STATES, VENEZUELA

Wednesday, February 18th, 2026 - In a move signaling a potential shift in investment priorities, Warren Buffett's Berkshire Hathaway has announced a substantial $4.8 billion investment in energy giant Chevron, while simultaneously divesting its entire stake in The New York Times Company. The dual announcement, made earlier today, has sent ripples through both the energy and media sectors, prompting analysts to reassess Buffett's long-term strategy.

The $4.8 billion (GBP3.8 billion) investment in Chevron translates to a 6.8% ownership stake in the company. This isn't an isolated incident; Berkshire Hathaway has been steadily increasing its presence in the energy sector for several years, already holding significant positions in Phillips 66 and Occidental Petroleum. This latest move reinforces a growing belief that Buffett sees long-term value and stability in traditional energy sources, even as the world transitions towards renewable alternatives. While many investors are pivoting heavily towards 'green' energy, Buffett appears to be playing a more nuanced game, recognizing the continued global demand for oil and gas for the foreseeable future.

Conversely, the complete sale of Berkshire Hathaway's 17-year investment in The New York Times netted a profit of approximately $275 million. Though profitable, the decision to exit the media company represents a clear indication that Buffett is less convinced about the future viability of traditional print media. He's publicly voiced concerns in the past about the challenges faced by newspapers and magazines in the digital age, citing declining readership and the dominance of online platforms. The immediate market reaction confirmed these concerns, with New York Times shares experiencing a nearly 3% dip in after-hours trading.

This isn't simply about a distaste for the media industry, however. It's increasingly seen as a calculated evaluation of risk and return. The media landscape is undeniably fragmented and fiercely competitive, with revenues increasingly reliant on digital subscriptions and advertising - both areas subject to constant disruption. Chevron, on the other hand, provides a more predictable revenue stream and is seen as a comparatively stable investment in a world demanding consistent energy supplies.

Analysts suggest this shift reflects a broader trend within Berkshire Hathaway. While Buffett previously demonstrated a willingness to invest in diverse sectors, including consumer goods and technology, a noticeable gravitation towards value stocks - companies with solid fundamentals trading at relatively low prices - has become increasingly apparent. Chevron, despite environmental concerns, fits this profile. Its robust cash flow and established infrastructure provide a degree of security that many growth-oriented companies lack.

"Buffett's strategy has always been about identifying undervalued assets with long-term potential," explains financial analyst Sarah Chen of Global Investments. "While The New York Times is a well-respected brand, the challenges it faces in the digital age make it a riskier investment than, say, a major energy company that benefits from consistent global demand. He's playing the odds, and right now, the odds seem to favor energy."

The decision has also sparked debate about the ethics of continued investment in fossil fuels amidst growing climate concerns. Some critics argue that Berkshire Hathaway's actions contradict the urgent need to transition to renewable energy sources. However, proponents of Buffett's strategy point out that eliminating oil and gas demand overnight is unrealistic, and that Chevron, despite its historical reliance on fossil fuels, is also investing in renewable energy projects and carbon capture technologies.

The long-term implications of this move remain to be seen. However, it's clear that Warren Buffett is re-evaluating his portfolio, prioritizing sectors he believes will offer sustainable returns in a rapidly changing world. The Chevron investment signals a continued belief in the importance of energy, while the New York Times exit demonstrates a willingness to move away from industries facing existential threats. It's a bold strategy, but one that's consistent with Buffett's legendary track record of identifying value and capitalizing on market opportunities.