June 6, 2023

The Queens County Citizen

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Berkshire Hathaway | Warren Buffett named Greg Abel as his future successor

Berkshire Hathaway |  Warren Buffett named Greg Abel as his future successor

(New York) Billionaire Warren Buffett told CNBC on Monday that Greg Abel, the next head of Berkshire Hathaway, the largest American financial holding company, put an end to years of suspense about his successor.

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“Leaders agree that if anything happens to me tonight, Greg will be responsible tomorrow morning,” said Warren Buffett, the world’s sixth-largest fortune teller with $ 103.7 billion, according to the TV channel. Forbes ranking.

Some evidence in this direction emerged from a general meeting of shareholders of the company over the weekend at the company of his friend and lifelong business partner Charles Munger, who could not conclude that it was a question of an official legacy.

Ajit Jain, an American businessman nicknamed the “Oracle of Omaha” and currently the group’s head of insurance, said he had taken the reins of Mr Abel’s incompetence.

“They are two wonderful people,” Mr Buffett told CNBC.

Warren Buffett, 90, a billionaire who oversees some sixty companies, including American insurer Zico and Duracell battery manufacturers, has put an end to years of suspense over his next position as head of Berkshire Hathaway.

The billionaire was born into a middle-class family in Omaha (Nebraska) on August 30, 1930, a highly respected leader who at the same time succeeded in developing, thanks to intelligently orchestrated communication and accessible personality.

Photo by Yahoo Finance, Reuters

Gregory Abel

Fifty years later, the remarried father of three has turned Berkshire Hathaway into a conglomerate worth over $ 640 billion, thanks to his financial investments in blue chip stocks.

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He is committed to donating most of his wealth to charity, including the foundation of his friend Bill Gates, who loves to play bridge. The promise that many American billionaires have followed.

Greg Abel and Ajit Jain are regularly cited as potential successors to the head of the compound and are unknown to the group.

Canadian Greg Abel joined the company in his energy division in 1992 and oversaw all non-insurance operations for over three years.

Indian-American Ajit Jain joined Berkshire in 1986.

Berkshire Hathaway stock rose 1.44% on Wall Street at 11am.