After decades-long tenure, Buffett names his Berkshire successor

Buffett currently ranks as the world’s sixth-richest person with a wealth of US$103.7 billion.

NEW YORK: Berkshire Hathaway plans to name Greg Abel as chief executive when the conglomerate’s longtime chief, Warren Buffett, eventually exits, CNBC reported Monday. Buffett, 90, confirmed the plan to the business network after Berkshire’s annual meeting over the weekend. “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 told CNBC.Buffett currently ranks as the world’s sixth-richest person with a wealth of US$103.7 billion, according to Forbes magazine.

A unique figure in American business, Buffett’s plain-spoken approach to big business and his understated personal life has made him a broadly popular figure in the US even as Berkshire has amassed massive assets in the insurance and utility businesses and large equity stakes in a vast array of US companies.Buffett also indicated that Vice-Chairman Ajit Jain, 69, who runs the company’s insurance operations, was the second in line to succeed if anything should happen to Abel.

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Warren Buffett says US economy’s unexpected strength benefits Berkshire | Malay MailNEW YORK, May 2 — Warren Buffett said on Saturday that Berkshire Hathaway Inc is being lifted by a US economy faring far better than he predicted early in the coronavirus pandemic, though investor euphoria is making it hard to deploy cash. Speaking at Berkshire’s annual meeting, Buffett said...
Source: malaymail - 🏆 1. / 86 Read more »

Warren Buffett’s Berkshire Hathaway faces headwinds as shareholders look to its future | Malay MailNEW YORK, May 3 — Some Berkshire Hathaway shareholders are grappling with how Warren Buffett’s conglomerate will handle a thicket of post-pandemic challenges, including looming inflation, a dearth of acquisitions and demands for more environmental and social disclosures. Making money at...
Source: malaymail - 🏆 1. / 86 Read more »

IS-aligned militants kill 35 in Nigerian attacksThe decade-long insurgency has killed 36,000 and forced millions to flee. FMTNews Militant NigerianAttacks
Source: fmtoday - 🏆 5. / 72 Read more »

US economy's unexpected strength benefits Berkshire, says Warren BuffettCEO of the multinational firm says the economy has been 'resurrected in an extraordinarily effective way'. FMTNews Berkshire WarrenBuffett
Source: fmtoday - 🏆 5. / 72 Read more »

IGP retires tomorrow | The Malaysian InsightAbdul Hamid Bador asks successor to focus on problems in East Malaysia. Bye! Dear IGP, Rakyat prays for your return soon. Only you have the GUTS to correct the wrongdoings in PDRM.
Source: msianinsight - 🏆 8. / 63 Read more »