Updated / Tuesday, 4 May 2021
08:03
Berkshire Hathaway s CEO Warren Buffett is 90 years of age
Warren Buffett ended years of speculation about who would succeed him at Berkshire Hathaway by saying Vice Chairman Greg Abel would take over as chief executive officer if he were to step down. The directors are in agreement that if something were to happen to me tonight, it would be Greg who d take over tomorrow morning, Buffett said, according to a CNBC report.
Buffett, 90, has never provided a timetable for his departure.
Abel, 58, has overseen Berkshire s non-insurance businesses since 2018, after building its Berkshire Hathaway Energy unit into a major US power provider.
Updated: May 4 2021, 11:17 ET
WARREN Buffett, 90, has confirmed that Greg Abel will become Berkshire Hathaway s next boss.
It s a massive leap from when Abel, 58, was a kid, getting cash by delivering advertising flyers and filling fire extinguishers.
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Who is Greg Abel?
Greg Abel, 58, is a staunch hockey fan who was born in Edmonton, Canada.
He s been at the heart of a mystery over who would eventually replace Warren Buffett as CEO at $640billion company Berkshire Hathaway.
And this week the long-unanswered question has finally been resolved - possibly by accident.
At Berkshire’s annual meeting on May 1, 2021, the billionaire s longtime lieutenant Charles Munger made an off-handed comment , reports Forbes.
Warren Buffett says Greg Abel would become Berkshire CEO after he s gone -CNBC netscape.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from netscape.com Daily Mail and Mail on Sunday newspapers.
Federal Reserve and the stimulus packages passed by
Congress have done a tremendous job of propping up the economy because interest rates remain low. He said the government clearly learned lessons from the Great Recession in 2008 and acted quickly, but it s hard to predict what the long-term consequences of those policies will be.
“This economy right now 85% of it is running in a super high gear and you’re seeing some inflation and all that. It has responded in an incredible way. We learned something out of 2008 and 2009 and then we applied it. But I don’t think it was a sure thing that it would happen,” Buffett said.
Associated Press
OMAHA, Neb. (AP) Billionaire Warren Buffett warned people not to think investing is an easy way to make a fortune as he answered questions at Berkshire Hathaway s annual meeting Saturday.
Buffett said it can be tough to pick the long-term winners. He pointed out that in 1903 there were more than 2,000 car companies, and nearly all of them failed even though cars have transformed the country since then.
“There’s a lot more to picking stocks than figuring out what will be an incredible industry in the future,” Buffett said. “I just want to tell you that it’s not as easy as it sounds.”