Tags: warren buffett | berkshire hathaway | successor

Warren Buffett: Berkshire Has 'Right CEO' to Succeed Me

Warren Buffett: Berkshire Has 'Right CEO' to Succeed Me
Warren Buffett, Berkshire Hathaway chairman and CEO (AP)

Tuesday, 21 November 2023 04:59 PM EST

Billionaire investor Warren Buffett said Berkshire Hathaway has the "right CEO" to succeed him and the "right board of directors," the company disclosed in a letter from him on Tuesday which disclosed he donated about $866 million of Berkshire stock to four family charities.

Buffett said, "At 93, I feel good but fully realize I am playing in extra innings." He told shareholders "I feel good" as he moves nearer the sunset of his storied investing career.

Buffett has many times said that Vice Chairman Greg Abel would succeed him as CEO.

The world's fifth-richest person is gradually giving away nearly all of the fortune he built at Omaha, Nebraska-based Berkshire, which he has run since 1965.

He has since 2006 donated close to $52 billion of Berkshire stock to the family charities and the Bill & Melinda Gates Foundation, which has received more than $39 billion of stock overall.

In a regulatory filing, Berkshire said Buffett donated 1.5 million Class B shares of Berkshire to the Susan Thompson Buffett Foundation, named for his late first wife.

Buffett also donated 900,000 additional Class B shares, divided evenly among charities run by his children Howard, Susan and Peter: the Howard G. Buffett Foundation, the Sherwood Foundation and the NoVo Foundation.

Buffett said the latest donations supplement the $759 million of Berkshire stock he donated at this time last year, also just before the U.S. holiday of Thanksgiving.

© 2024 Thomson/Reuters. All rights reserved.


StreetTalk
Billionaire investor Warren Buffett said Berkshire Hathaway has the "right CEO" to succeed him and the "right board of directors," the company disclosed in a letter from him Tuesday.
warren buffett, berkshire hathaway, successor
236
2023-59-21
Tuesday, 21 November 2023 04:59 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved