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Warren Buffett Steps Down as Berkshire Chairman, Names Son to Replace Him

Warren Buffett Steps Down as Berkshire Chairman, Names Son to Replace Him

saimiam

Comments (98)

  • dugmartin
    I guess Warren’s quote only applies to other people, not him. "It’s like choosing the 2020 Olympic team by picking the eldest sons of the gold-medal winners in the 2000 Olympics." (https://www.nytimes.com/2001/02/14/us/dozens-of-rich-america...)
  • keiferski
    Buffett has been planning this since at least 2011:CHICAGO (MarketWatch) -- Warren Buffett has told the CBS News program "60 Minutes" that after he dies, he wants his son to become non-executive chairman of Berkshire Hathaway. Howard Buffett, a farmer with no college degree, would be a good successor, the elder Buffett said, because he understands the values of the company.http://www.marketwatch.com/story/warren-buffett-wants-farmer...
  • hn9zmdcaou
    Sat on a couple of boards and the non exec chair mostly just guards the culture and can fire the CEO. Abel runs the business. That's a very different job from Howard's.
  • jjallen
    There's a big difference between keeping all of your ownership and giving it to the son and paying a huge salary and making him non-executive chairman while giving away most of your wealth.
  • BennyBallTC
    Many people do not know this but he still holds the stock that he first bought as a 13y old. It is now worth 8+ figures!
  • iambateman
    A lot of negativity here on Buffett. I doubt any mega-billionaire is a total saint, but by comparison Warren seems like a guy who tried to do good in the world.We should hope for fewer billionaires, but as long as we have them, we should hope for more Warrens.
  • rib3ye
  • theplumber
    So after all no one could be trusted
  • bell-cot
    Best wishes and all. But given Berkshire's scale, and the son's age (71), questions about the next succession plan seem appropriate.Also, since the NYT says nothing else about the son: https://en.wikipedia.org/wiki/Howard_Graham_Buffett In context, his recent involvement in local politics seems rather odd.
  • andrewstuart
    I think it would be tedious to be that wealthy. You’d spend all your time managing the money and associated stresses.A super comfortable life with enough money to get you to 105 years old that all you need.
  • dominotw
    Warren Jong-il
  • bunabhucan
    [dead]
  • kittikitti
    People take what he does and says as gospel so knowing he went with monarchy tier nepotism is going to be very annoying.
  • mrlonglong
    Nepo dynasty.It'll all burn eventually.