JUST A BIT. BACK TO YOU. WARREN BUFFETT CREDITING THE LATE CHARLIE MUNGER AS THE ARCHITECT OF BERKSHIRE HATHAWAY, THE ORACLE OF OMAHA RELEASED HIS ANNUAL LETTER TO SHAREHOLDERS THIS MORNING, WRITING MUNGER NEVER SOUGHT TO TAKE CREDIT FOR HIS ROLE AS CREATOR. MUNGER DIED LAST NOVEMBER, A MONTH SHORT OF HIS 100TH BIRTHDAY. IN THE LETTER, BUFFETT TELLS SHAREHOLDERS THAT BERKSHIRE IS BUILT TO LAST, WRITING THAT THE COMPANY’S INSURANCE DEALINGS PERFORMED EXCEPTIONALLY WELL, BUT THAT HE WAS DISAPPOINTED IN THE COMPANY’S RAILROAD AND UTILITIES BUSINESSES. BUFFETT ALSO TALKED ABOUT GREG ABEL, WHO WAS SET TO SUCCEED HIM. BUFFETT WRITING, ABEL IS IN ALL RESPECTS READY TO BE CEO TOMORROW. YOU CAN READ THE FULL LETTER RIGHT NO
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Who is Greg Abel? Meet Warren Buffett's planned successor at Berkshire Hathaway
Warren Buffett's succession plan names vice chairman Greg Abel to succeed the Oracle of Omaha.Abel, who is the chair of Berkshire Hathaway Energy, has overseen the non-insurance operations of Berkshire Hathaway since 2018, including things like utilities and BNSF Railroad.He also serves as director and vice chair for Associated Electric & Gas Insurance Services Limited, a mutual insurance company.Related video above: Warren Buffett remembers late business partner in annual letter to shareholdersAbel also serves on a number of boards, including the board of directors for the Kraft Heinz company, the Mid-Iowa Council Boy Scouts of America executive board and the Drake University board of trustees.In his annual letter to shareholders in 2024, Buffett said that Abel is "in all respects" ready to be CEO of Berkshire as soon as "tomorrow."In 2023, Buffett said Berkshire is “so damn lucky” to have Abel ready to take over as CEO.“I don’t have a second choice. I mean, it is that tough to find. But I have also seen Greg in action, and I feel 100% comfortable,” Buffett said at 2023's annual meeting. “Greg is inheriting a good business, and I think he’ll make it better.”Click here for the latest headlines from KETV NewsWatch 7
OMAHA, Neb. —
Warren Buffett's succession plan names vice chairman Greg Abel to succeed the Oracle of Omaha.
Abel, who is the chair of Berkshire Hathaway Energy, has overseen the non-insurance operations of Berkshire Hathaway since 2018, including things like utilities and BNSF Railroad.
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He also serves as director and vice chair for Associated Electric & Gas Insurance Services Limited, a mutual insurance company.
Related video above: Warren Buffett remembers late business partner in annual letter to shareholders
Abel also serves on a number of boards, including the board of directors for the Kraft Heinz company, the Mid-Iowa Council Boy Scouts of America executive board and the Drake University board of trustees.
In his annual letter to shareholders in 2024, Buffett said that Abel is "in all respects" ready to be CEO of Berkshire as soon as "tomorrow."
In 2023, Buffett said Berkshire is “so damn lucky” to have Abel ready to take over as CEO.
“I don’t have a second choice. I mean, it is that tough to find. But I have also seen Greg in action, and I feel 100% comfortable,” Buffett said at 2023's annual meeting. “Greg is inheriting a good business, and I think he’ll make it better.”
