Goldman Sachs (GS), the second largest investment bank in the world by revenue, announced a whopping $30 billion share repurchase program which represents nearly a quarter of its market cap.
Buyback activity edged up further with 28 companies announcing buybacks last week compared to 20 companies in the prior week. The Chinese internet search platform, Baidu, Inc. (BIDU) also announced a huge $5 billion share buyback, effective through December 2025, representing around 10.6% of its market cap at announcement. Unfortunately, Baidu did not make our top 5 list this week.